Blog

If you’re struggling with overwhelming debt in New York and considering filing for Chapter 7 bankruptcy, one of the key eligibility requirements is passing the bankruptcy “means test.” This test evaluates your household income to determine if you qualify for a Chapter 7 straight bankruptcy, where your unsecured debts like credit cards and medical bills […]

Bankruptcy is a legal procedure that provides relief to individuals and businesses struggling with overwhelming debt. It allows them to restructure or wipe their debts and get a fresh financial start. However, not all bankruptcy cases are approved. In New York, there are instances where bankruptcies can be denied, leaving debtors in a precarious situation.

If you’re struggling with overwhelming debt in New York, filing for Chapter 7 bankruptcy may provide the fresh financial start you need. Many ask, “Is there a limit to how much debt is allowed for Chapter 7?” The short answer is no, there is no minimum or maximum debt limit if you’re filing for Chapter

If your monthly household income falls below the state median income for a household of the same size, it is presumed that you meet the means test requirements and qualify to file for Chapter 7 bankruptcy. Here, we explain New York state’s current median incomes which are effectively the current income limits to file for

When filing for bankruptcy, individuals are subject to certain look-back periods, which are periods in their financial past that the bankruptcy trustee will examine. In New York, the bankruptcy lookback periods are as follows: Below, we explain these lookback periods and how they apply to New York bankruptcy filing. For sound guidance on your specific

Filing for bankruptcy doesn’t necessarily leave people penniless. With Chapter 7 bankruptcy exemptions in New York, under NY exemption law you may keep as much as $6,000 in cash among other exempted assets. Below is a guide on how bankruptcy exemptions work. If you need legal guidance for smart debt relief strategies, consult our experienced

If you’re struggling with overwhelming debt in New York, you may be considering filing for bankruptcy as a way to get a fresh financial start. Two of the most common types of personal bankruptcy are Chapter 7 and Chapter 13. But which one is cheaper to file in New York? The answer depends on several

When facing overwhelming debt, many New Yorkers consider filing for Chapter 7 bankruptcy as a way to get a fresh financial start. However, one of the most common concerns is whether they’ll be able to keep their personal belongings and assets. The good news is that in most cases, you can keep all of your

Filing for Chapter 7 bankruptcy in New York can provide much-needed debt relief, but it’s crucial to understand what assets you may have to give up in the process. This guide will explore the intricacies of Chapter 7 bankruptcy in New York, focusing on what you might lose and what you can potentially keep. New