How to file for bankruptcy in new york?

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Filing for bankruptcy can be a complex and overwhelming process, but it can provide individuals and businesses with a fresh start and relief from overwhelming debt. If you find yourself in a situation where bankruptcy seems like the best option, it’s important to understand the specific requirements and procedures for filing in your state. In this article, we will dive into the process of filing for bankruptcy in New York, providing you with a comprehensive guide to navigate through this challenging process.

Types of Bankruptcy

Before diving into the specifics of filing for bankruptcy in New York, it’s essential to understand the different types of bankruptcy available. The two most common types of bankruptcy for individuals are Chapter 7 and Chapter 13.

Chapter 7 Bankruptcy: This type of bankruptcy, also known as liquidation bankruptcy, involves the sale of non-exempt assets to repay creditors. It is typically suitable for individuals with limited income and significant unsecured debts.

Chapter 13 Bankruptcy: Unlike Chapter 7, Chapter 13 bankruptcy allows individuals to reorganize their debts and create a repayment plan. This type of bankruptcy is suitable for individuals with a regular income who can afford to repay a portion of their debts over time.

Filing for Bankruptcy in New York

Now that we have a basic understanding of the types of bankruptcy, let’s explore the process of filing for bankruptcy in New York. Here are the key steps involved:

1. Credit Counseling: Before filing for bankruptcy, individuals must complete a credit counseling course from an approved agency. This requirement aims to ensure that individuals explore all possible alternatives to bankruptcy.

2. Gathering Necessary Documents: To file for bankruptcy, you will need to gather various documents, including income statements, tax returns, a list of assets and liabilities, and any relevant financial records. These documents will be crucial in determining your eligibility and creating a comprehensive bankruptcy petition.

3. Filing the Bankruptcy Petition: Once you have completed the credit counseling course and gathered all the necessary documents, you can file your bankruptcy petition with the United States Bankruptcy Court for the Southern District of New York or the Eastern District of New York, depending on your location.

4. Automatic Stay: Once your bankruptcy petition is filed, an automatic stay goes into effect. This means that creditors must immediately stop all collection efforts, including lawsuits, wage garnishments, and phone calls.

5. Meeting of Creditors: Approximately 20-40 days after filing your bankruptcy petition, you will attend a meeting of creditors, also known as a 341 meeting. During this meeting, the bankruptcy trustee and your creditors have the opportunity to ask you questions about your financial situation.

6. Financial Management Course: After attending the meeting of creditors, individuals must complete a financial management course from an approved agency. This course aims to provide individuals with the necessary tools and knowledge to manage their finances effectively in the future.

7. Discharge of Debts: If everything goes smoothly, you will receive a discharge of your eligible debts. This means that you are no longer legally obligated to repay those debts, providing you with a fresh financial start.


Filing for bankruptcy in New York can be a complex and challenging process, but it can also provide individuals and businesses with the opportunity to overcome overwhelming debt. By understanding the different types of bankruptcy, gathering the necessary documents, and following the specific procedures outlined by the United States Bankruptcy Court, individuals can navigate through the process with confidence. It is crucial to consult with a qualified bankruptcy attorney to ensure that you comply with all requirements and maximize the benefits of bankruptcy.


– United States Courts:
– United States Bankruptcy Court for the Southern District of New York:
– United States Bankruptcy Court for the Eastern District of New York: