New York · Chapter 7 Bankruptcy: What to Know Before You File
Chapter 7 Bankruptcy: What to Know Before You File in New York
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What best describes your debt situation? *
Updated
02 · Where cases are heard
Where would my case be heard?
New York Chapter 7 Exemptions
New York is an opt-in state (since 2011): a New York debtor may use the state exemption set OR elect the federal Section 522(d) exemptions. Because the federal set carries a larger wildcard, it is often the better choice for low-equity debtors. (Source: Nolo, New York Bankruptcy Exemptions.)
County-Tiered Homestead
(Source: Nolo, New York Bankruptcy Exemptions.)
(Source: Nolo, New York Bankruptcy Exemptions.)
Which State's Exemptions Apply
To compare your six-month income against the New York median, use the Chapter 7 means test calculator at /tools/chapter-7-means-test-calculator. To estimate what property New York or the federal set might protect, use the bankruptcy exemption estimator at /tools/bankruptcy-exemption-estimator.
How this works nationally
For the overall process and updates, read the Chapter 7 Bankruptcy: What to Know Before You File overview. This page covers the local information available for New York.
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