Tell us about your case so that we can connect you with the right lawyers.
Bankruptcy attorneys with over 40 years of combined experience representing the legal needs of clients in Long Island, the New York Metro Area, and the Hudson Valley.
200 Broadhollow Road Suite 207 - Melville, NY 11747
The Law Office of Bradley D. Schnur, Esq., P.C. is a hands-on, attentive law firm. We lay out options for our clients and describe the different scenarios under each option, allowing the client to make informed decisions.
400 Jericho Turnpike, Suite 226 - Jericho, NY 11753
Worried about losing your house? Worried about losing your car? Just plain overwhelmed by debt? At Warner & Warner, we strive to obtain Debt Relief and a Fresh Financial Start for every one of our clients. Call today for a Free Consultation!
6 Automation Lane Suite 109 - Albany, NY 12205
5.0 "AV Preeminent Peer Review Rating" in the Martindale-Hubbell Law Directory (highest ranking attainable) Attorneys with more than 48 years of combined experience in Bankruptcy Law; Debt Settlement/Negotiat
90 Merrick Avenue Suite 400 - East Meadow, NY 11554
We carefully explain and consult how the law applies in your case, and the legal options available to you, our main goal is to help you make informed decisions and understand how they will impact your case.
1801 Altamont Ave - Schenectady, NY 12303
Since 1978, we have been providing aggressive, diligent, and personalized legal representation for our clients throughout the metropolitan New York area. We offer free consultation. Phone calls and emails are responded to 7 days a week.
479 Merrick Road - Lynbrook, NY 11563
(516) 561-6645 & (718) 350 2802
The Empire State’s Economic Situation
Before the recession even began, New York was losing population faster than any other state, and with the highest per-capita income taxes in the country and business taxes the second-highest, the affordability factor has never been so severely out of step. Bankruptcies filed in 2008 hit record levels with over 47,000 in New York alone, and over 96% of those filed by consumers. It is estimated that 1.4 million consumer bankruptcies will be filed in the U.S. in 2009, the surge triggered by the foreclosure crisis and economic downturn.
The Federal Bankruptcy Law involves processes, procedures and evaluations which can be complex and confusing, including major revisions made in 2005. Seek the advice of an attorney/law firm with specific long-term experience in New York bankruptcy matters. Check references, if possible. A competent attorney will help you weigh your different options, make informed decisions, help you protect the security of your family and reduce your stress, while facing the realities of the situation.
Alternatives to New York Bankruptcy
Contact your creditors to try to work out payment arrangements that you can manage. Contact the non-profit Consumer Credit Counseling service to get help with a manageable repayment plan. Sell as many assets as you can and pay down your debt to a manageable level. Debt consolidation may be considered, but approach this option with caution to make sure it actually helps your situation.
Exemptions – Which Property is Exempt from Bankruptcy in New York?
Certain property, or values of property, is exempt from being included in the debtor’s estate and these exemptions vary from state to state. Some states have their own set of exemptions which replace the federal list, and other states allow you to choose between the state or federal list of exemptions. The exemptions, which change frequently, vary widely from jurisdiction to jurisdiction and understanding your options is a very important aspect of evaluating your position.
Next Steps for the New York Bankruptcy Filer
New Yorkers continue to suffer, as the State’s economy struggles to recover. If you are considering bankruptcy, decisions you make and actions you take can have a positive or negative effect on the outcome of your bankruptcy proceedings. Although some filers elect to handle their bankruptcy on their own, The U.S. Bankruptcy Court warns that “Bankruptcy has long-term financial and legal consequences - hiring a competent attorney is strongly recommended.”Click here to find New York attorney resources in your area.