Summary
Filing for Chapter 7 bankruptcy in New York involves several steps, including choosing the type of bankruptcy, completing a credit counseling course, and filing a petition with the New York bankruptcy court. An automatic stay will protect you from creditors, and you will need to attend a 341 meeting of creditors. For Chapter 7, you must pass a means test, determine which assets are exempt from liquidation, and pay a filing fee. Legal advice is highly recommended due to the complexity of the process.Full Conversation
I need to claim bankruptcy in NYS. What do I need to do
I can help with that. Filing for bankruptcy in New York State involves several steps. Here are the basics:
- **Choose the type of bankruptcy**: Chapter * (liquidation) or Chapter * (repayment plan).
- **Credit Counseling**: Complete a credit counseling course.
- **File Petition**: File a bankruptcy petition with the New York bankruptcy court.
- **Automatic Stay**: An automatic stay will protect you from creditors.
- *** Meeting**: Attend a meeting of creditors.
Do you know which type of bankruptcy you are considering, Chapter * or Chapter *?
*
Great, you are considering Chapter * bankruptcy. Here are the next steps:
- **Means Test**: Ensure you pass the means test to qualify for Chapter *.
- **Exemptions**: Determine which assets are exempt from liquidation under New York State law.
- **Filing Fee**: Pay the required filing fee or request a waiver.
Would you like more details on any of these steps?
U.S. Bankruptcy Court for the Southern District of New York
Phone: (*) *-*
Address: One Bowling Green, New York, NY *-*
Website: www.nysb.uscourts.gov Yes
Sure, let's dive into more details on the steps for filing Chapter * bankruptcy in New York State:
- **Means Test**: This test determines if your income is low enough to qualify for Chapter *. You'll need to compare your income to the median income for a household of your size in New York.
- **Exemptions**: New York allows you to protect certain assets from being sold off. Common exemptions include a portion of your home equity, personal property, and retirement accounts.
- **Filing Fee**: The fee for filing Chapter * is approximately $*. If you can't afford this, you can request a fee waiver or to pay in installments.
Would you like information on how to complete the means test or details on New York State exemptions?
Tell me more
Sure, let's go into more detail about the Means Test and New York State exemptions for Chapter * bankruptcy:
- **Means Test**:
- **Purpose**: To determine if you qualify for Chapter * based on your income.
- **Income Comparison**: Compare your monthly income to the median income for a similar household in New York.
- **Calculation**: You will need to complete Form 122A-* (Chapter * Statement of Your Current Monthly Income).
- **New York State Exemptions**:
- **Homestead Exemption**: Protects equity in your home up to a certain amount.
- **Personal Property**: Includes exemptions for clothing, furniture, and tools of trade.
- **Retirement Accounts**: Generally, fully protected under state law.
Would you like more specific details on any of these exemptions?
Do I need a attorney if I'm filing for chapter *
You don't necessarily need an attorney to file for Chapter * bankruptcy, but it is highly recommended due to the complexity of the process. Here are some points to consider:
- **Complexity**: Legal paperwork and procedures can be complicated.
- **Mistakes**: Errors can lead to dismissal or loss of property.
- **Legal Advice**: An attorney can provide tailored advice and representation.
Would you like information on finding legal aid services in New York?
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