Places to Find Bankruptcy Information

While cost is certainly a major concern for you right now, it's not always the best idea to just hire the cheapest bankruptcy attorney you can find. "You get what you pay for" is a maxim that certainly applies here. If you run into unforeseen complications with your filing, you want to be sure that your attorney will have the experience and expertise to keep things on track. A seasoned attorney probably won't be the cheapest around, but he or she will be there to answer questions, deal with complications, and make sure that you end up free and clear of your debt.



Some attorneys allow clients to pay their fees ininstallments - if you can't come up with the entire fee, this might be a good way to get the bankruptcy process started. Just keep in mind that paying in installments might delay your filing. Some states also have programs that provide volunteer attorneys to handle your bankruptcy case at no cost.



Once you choose an attorney, make sure you get a statement of your fees in writing - this way, you will know the exact cost of your bankruptcy filing.



For many people, the cost of bankruptcy seems like a huge obstacle. However, if a creditor offered to wipe out all your debt for just a few hundred dollars, you'd likely jump on the chance. Essentially, bankruptcy offers the same opportunity.

If you're planning to file bankruptcy in New York for any reason, you should hire an attorney to help with your case. But that costs lots of money, right?

The biggest mistake bankruptcy filers can make is making price the main factor of choosing an attorney. But it is there, it is important, so let's address first the overall fees involved for filing personal bankruptcy in New York.rk.


Chapter 7 fees cost $299 to file with the New York court, while Chapter 13 is $274. Those are very minor in comparison to what you gain. These fees are the same wherever you are -- New Jersey, Pennsylvania, California, every state in the country. What's not always the same is 1) eligibility and 2) lawyer fees. These do often depend on the state, the area you live in, and how much you make in comparison to the median income.

Eligibility for Filing New York Bankruptcy

New York is very unique as the median income here is higher than most other states. While it's not the highest, it is in the top 10 of state median incomes. If you are a single resident, for example, and you make more than $50,000, as of 2010 you cannot file under Chapter 7. Let's go over the numbers.

New York Eligibility for Chapter 7

1 Resident - $46,320

2 Residents- $57,902

3 Residents- $69,174

4 Residents - $82,164

And proportionally higher after that.

Now, what exactly can Chapter 7 bankruptcy do? This is the classic form where you discharge all your main debts, including credit card, medical, mortgage, and car debt. The only negative is your nonexempt assets can be sold in order to pay off these fees. If you're unsure of what property is exempt, or if you're within the income limits for New York, contact an experienced attorney today.


New York Bankruptcy Attorney is a full service bankruptcy firm with offices in New York and New York City (NYC). We help clients in foreclosure cases as well as filing for Chapter 7 or 13 in New York.

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