Bankruptcy in New York
Filing Guide, Exemptions & Attorney Help
Filing for Bankruptcy in New York
While bankruptcy is federal law, where you live matters significantly. New York has its own specific exemption amounts, its own federal bankruptcy courts, and its own median income figures for the Means Test. Understanding these local rules is the first step to a successful filing.
New York Bankruptcy Exemptions
Exemptions determine what property you get to keep when you file Chapter 7 bankruptcy. In New York, these limits dictate how much equity you can protect.
| Homestead Exemption | Varies by New York law |
| Motor Vehicle | Varies |
| Personal Property | Varies |
| Retirement Accounts | Fully Exempt (Federal) |
Exemption amounts change periodically. An attorney in New York will know the current exact figures for your situation.
Means Test Data
To file Chapter 7, your income generally must be below the New York median for your household size.
- 1 Person: Consult attorney
- 2 People: Consult attorney
- 3 People: Consult attorney
- 4 People: Consult attorney
Bankruptcy Courts
Bankruptcy cases in New York are handled by the United States Bankruptcy Courts for the districts of New York.
Your local attorney will determine which district your case will be filed in based on your zip code.
Bankruptcy Options in New York
Residents of New York have access to the same federal bankruptcy chapters as every other state. The most common options for individuals are:
Connect with a New York Attorney
State laws change frequently. Get advice tailored specifically to your situation and New York law. Free consultation, no obligation.
Find a New York Bankruptcy Lawyer