Bankruptcy

Bankruptcy isn’t about failure — it’s a legal, structured way to get a fresh financial start. Depending on your situation, that usually means one of two paths.

Chapter 7

Chapter 7 eliminates most unsecured debts — credit cards, medical bills, personal loans — in exchange for liquidating non-exempt assets, most of which are protected under New York’s exemption laws. For many people, this means a clean slate in a matter of months, not years.

Chapter 13

Chapter 13 restructures what you owe into a manageable repayment plan, typically over three to five years, while letting you keep your home, your car, and other assets. It’s often the right fit when you have income to work with but need room to catch up.

Which one is right for you?

That depends on your income, your assets, and what you’re trying to protect. A short conversation is usually enough to tell.

This page is for general information only and is not legal advice. Attorney Advertising. We may or may not offer a free consultation on a case-by-case basis.