Filing Bankruptcy in New York City and keeping cash
About 6 moths ago, if you had walked into my New York Bankruptcy office and told me that you had $8,000 in your bank account and you wanted to file for Bankruptcy, I would have said be prepared to give up a lot of your money to the Trustee. Not anymore. With the New New York Bankruptcy Exemptions that were passed a few short weeks back, things have changed….for the better. Now, you can protect up to $12,000 in ANY type of asset if you’re not using a Homestead exemption (an exemption where you protect the equity in your home). Have a car in New York and want to file for Bankruptcy? Whats that? Its paid off? And worth $10,000? No problem. You can likely keep it under the new rules. Receiving a large tax refund this month? Keep it.
The new exemptions allow you to either opt in to the New York Bankruptcy Exemptions or the Federal ones. Really, its all boring lawyer stuff, but the bottom line to you is that you can now get rid of thousands upon thousands of dollars in credit card debt, stop wage garnishments, lawsuits, and STILL STILL have enough to start your financial life over again.
With the new law I figured there would be a ton of questions from people out there, and we were right. We’re going to be instituting something called “Free Hour Fridays” in the coming weeks. You get to talk to yours truly, via Skype, either through phone or video, free for one hour. Ask me any questions about filing Bankruptcy in Brooklyn, Queens, Staten Island, Long Island, the Bronx. You get it. I’m absolutely thrilled that we’ll be able to help our clients keep so much more of whats their while getting rid of their debt.
Stop wasting money on debt settlement and solutions that dont work, before speaking to a New York City Bankruptcy attorney about this new law!