How does bankruptcy work in New York State?

How does bankruptcy work in New York State?

Before the New York bankruptcy court wipes out qualifying debt, you must disclose all aspects of your financial situation—income, expenses, property, debt, and property transactions—on official bankruptcy forms. These forms are free.

How does a person file for bankruptcy in the US?

A bankruptcy case normally begins when the debtor files a petition with the bankruptcy court. A petition may be filed by an individual, by spouses together, or by a corporation or other entity. All bankruptcy cases are handled in federal courts under rules outlined in the U.S. Bankruptcy Code.

What are the exemptions for bankruptcy in New York?

The New York wildcard exemption allows you to protect any personal property of your choice (not real estate) or cash up to a value of $1,150. This exemption is available only if you don’t use the homestead exemption. (NYCPLR §§ 5205 (a) (9).) Find a more detailed list of New York bankruptcy exemptions.

How does filing bankruptcy help a debtor?

Filing bankruptcy can help a person by discarding debt or making a plan to repay debts. A bankruptcy case normally begins when the debtor files a petition with the bankruptcy court.

Where can I get a copy of my 2004 bankruptcy?

If you filed bankruptcy in 2004 or prior, your records are limited, and may not be available to order electronically. Call (800) 988-2448 to check the availability prior to ordering your records, if this applies to you.

Where do I go to file for bankruptcy?

After filling out the bankruptcy forms online on the U.S. Bankruptcy Court forms webpage, you’ll file your paperwork in your local bankruptcy court. Bankruptcy filing fees or fee waiver. You’ll pay a filing fee when you file your paperwork with the court unless you qualify for a fee waiver.

Can a bankruptcy court waive the Chapter 7 fees?

If the debtor’s income is less than 150% of the poverty level (as defined in the Bankruptcy Code), and the debtor is unable to pay the chapter 7 fees even in installments, the court may waive the requirement that the fees be paid. 28 U.S.C. § 1930(f).

Do you have to file bankruptcy in the city where you live?

For example, many people believe that, if you’re filing bankruptcy to get rid of a house, you must file the case in the city where the home is located. This is not necessarily true. The proper venue for your bankruptcy case will usually be the city that you are currently living in.

When do you need to file bankruptcy in another state?

Exemption laws are complex and should be discussed in detail with a competent bankruptcy attorney; however, as a general rule, your current state’s laws will apply if you’ve lived there for the last 730 days. If you lived (vacations don’t count) in another location in the last 730 days, that state’s laws will apply to your bankruptcy case.

Can you file bankruptcy in New York without an attorney?

The Western District of New York is one of the few districts in the nation that requires people filing Chapter 7 bankruptcy in New York without an attorney (“pro se”) to provide the court three full copies of all bankruptcy forms in addition to the original signed forms upon filing their case.

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