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Bankruptcy law in MichiganQ. Is there any *significant* difference between filing for bankruptcy in the state of Michigan or the State of Illinois? I have a friend who is investigating filing bankruptcy in Michigan, but is moving to Illinois to get a job. She has a lawyer in Michigan already, and after the move it's going to be a long-distance-call thing to go ahead with the filing. Also, how long must you be a resident of Illinois in order to file for bankruptcy under the state laws? A. Each state has its own exemptions, and therefore the property you can keep will be different between the two states. As to time, you can file in the district where you have lived more of the last 180 days than any other district; therefore, he could not file in the new state until he had lived there 91 days. If he moved, he could file in his former state for 90 days.
Other Questions: Tax/Bankruptcy question for any lurking CPA's I was the "proud" owner of "safe" bonds with Conseco. They then declared bankruptcy and the bonds were no more... sort of. After many months I received Conseco stock, worth, about 40% of the redemption value of the bonds. My question: I stil... Help me about NJ Bankruptcy Law in my caseMy 78 yo mother has hospital and credit card debts that is taking all of her money because of the interest. She can no longer pay her bills and is afraid to go bankrupt because she gave her house to my brother last January after no bank woul... How much does it cost to convert the case to chapter 7?How hard is a transition to chapter 7 from 13 in California? How much does it cost to convert the case to chapter 7?That would definitely throw us into Chapter 7 catagory with maybe $100 left after all expenses. Before you think that filing l... did North Carolina income tax go up this year?did North Carolina income tax go up this year? I'll have to check, but I thought last year NC income tax was around 7% or so. According to http://www.taxadmin.org/fta/rate/ind_inc.html , NC's income tax goes up to 12% this year, making us... file income tax with dependents' income and lossI plan to include dependents' income and loss into mine for my 2005 tax return. One dependent has capital gain income more than 1600, and the other has capital loss. The overall gain will be postive. In addition, I will owe some AMT for 2...
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