Do you have to be a U.S. citizen to seek bankruptcy protection?
When it comes to bankruptcy, most individuals think of a typical Minnesota family who is down on their luck.
When it comes to bankruptcy, most individuals think of a typical Minnesota family who is down on their luck. They’ve missed mortgage or car payments or have fallen behind on credit card bills. However, it happens that you don’t have to be a U.S. citizen to file for bankruptcy protection.
If you reside in the United States or have any assets in this country, you are entitled to seek bankruptcy protection. It is especially important for those who are non-citizens or who are less familiar with U.S. laws to consult an experienced Ramsey bankruptcy attorney to determine the best course of action for your particular situation.
It is worth noting that though bankruptcy can be a valuable option for non-citizens, they should always consider whether they have exempt property before filing. Given the fact that you can file for bankruptcy without a green card and without owning a home or other property, your exempt property may be limited. Discuss your assets with your lawyer before finalizing your plans.
Many non-citizens also mistakenly believe that if they seek protection, whether through Chapter 7 or Chapter 13 bankruptcy, their citizenship efforts or immigration status could be affected. This is simply not true. Bankruptcy will only affect your credit report (possibly even less than your report would be if you avoid filing).
Immigration documents in the United States do not ask for a bankruptcy history, so if you’re in the process of applying or seeking a renewal of a green card, you needn’t worry about bankruptcy affecting your ability to do so.
If you are struggling financially, consider speaking with a lawyer about your options and the best way forward, whether you are a U.S. citizen or not.