New York Bankruptcy Process
If you owe more debt than you can feasibly pay, you may wish to consider bankruptcy as a stepping stone to financial success in the future. Bankruptcy can be a confusing process so it is important that you seek strong legal representation from a qualified New York bankruptcy lawyer. At the Law Offices of Michael D. Pinsky, P.C., our firm can help you explore your bankruptcy options and determine if this is the best course of action for your situation. To learn more about filing for bankruptcy in New York State, contact the Law Offices of Michael D. Pinsky, P.C. today to schedule a consultation.
What types of bankruptcy are available to me?
There are several different bankruptcy options that may be available to you depending on your situation. If you are an individual who wishes to file for consumer bankruptcy, you will need to determine whether your eligibility falls into Chapter 7, Chapter 11, or Chapter 13. As a business owner who wishes to file for bankruptcy, your options may include Chapter 7, Chapter 11, or Chapter 12.
The Bankruptcy Means Test
The bankruptcy means test is how you are able to determine what type of bankruptcy you are eligible to file for. Chapter 7 bankruptcy requires you to meet specific income-based requirements. If your income is lower than the median income of the county where you live, you may be eligible for Chapter 7 and may be permitted to discharge some of your debts upon the completion of the bankruptcy process. If you do not meet the Chapter 7 qualifications, you may be able to file for Chapter 13 or Chapter 11 bankruptcy.
The New York Bankruptcy Process
When you want to file for bankruptcy, you must file a petition with the court. You must include a good deal of information about your situation, including:
- A list of all of your assets, which includes any real estate holdings and your possessions
- Your monthly living expenses
- An account of all of your income
- A list of all of your debts
You should be sure to retain the services of an experienced New York bankruptcy lawyer who can walk you through each step of the process. Contact the Law Offices of Michael D. Pinsky, P.C. today to learn what our firm can do for you.
Contact a Newburgh Bankruptcy Lawyer
At the Law Offices of Michael D. Pinsky, P.C., we recognize how hard it can be to make the decision to file for bankruptcy. We aim to assist you with each step of the process and can help you realize that bankruptcy can be a fresh start for yourself and your family. To learn more about the process of filing for bankruptcy in New York, contact the Law Offices of Michael D. Pinsky, P.C.