Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - Chapter 7 Bankruptcy question - Which exemptions do I use, Federal or State? - I live in Florida now, but I have lived here only for about 1.5 years. So, I know I can't file as a Florida resident (730 day rule). Prior to Florida, I lived in Indiana for 30 years, so as I understand it by the 180 rule, Indiana is the state I would have to use. Indiana requires you to use their states's exemptions and NOT the federal exemptions, but it DOES NOT allow you to use the state exemptions if you are not domiciled in Indiana. Since I live in Florida then I cannot use the Indiana state exemptions, so that takes me back to the Federal exemptions. Is this correct? If I wait another 6 months, I will gain Florida residency and since Florida requires the use of their exemptions and NOT the Federal exemptions, I would then be required to use Florida exemptions. I don't own a home, so the Federal exemptions would be better for me that the Florida exemptions, so it would be best if I file in the next 6 months before I become an official Florida resident. Does that sound right? -
