PERSONAL BANKRUPTCY LAWYER NEW YORK

How Wenarsky & Goldstein Approaches Bankruptcy in New York

At the Law Offices of Wenarsky and Goldstein, LLC, we start by listening. Every client’s debt situation is different, and we take time to understand yours before we recommend anything.

Our first step is a full review of your finances. We look at what you owe, what you own, and what your income is. From there, we can see which path makes the most sense for you. Either Chapter 7 or Chapter 13 Bankruptcy. 

We also look at what assets you can protect. New York has its own bankruptcy exemptions — rules that let you keep certain property during the process. We apply those rules carefully so you keep as much as possible.

Chapter 7 Bankruptcy

Chapter 7 is the fastest form of bankruptcy, with most cases being completed in 3-4 months. A trustee liquidates your non-exempt assets to repay creditors, and then the court discharges your remaining debts.

You can keep:

• More than $200,000 in home equity, depending on where you live (New York exemption)
• One vehicle up to $4,825 in value
• Household goods, clothing, and personal items
• Retirement accounts and pensions
• Tools of your trade up to $3,575

Eligibility requirement: You are required to pass the means test, which compares your income to New York’s median. If your income is too high, you’ll need to file Chapter 13 instead.

Chapter 13 Repayment Plan Bankruptcy

Chapter 13 allows you to keep all your property—including non-exempt assets—while repaying creditors through a court-approved 3-5 year plan. This option works well if you’re behind on mortgage or car payments and need time to catch up.

Benefits of Chapter 13:

• Stop foreclosure and restructure mortgage arrears
• Keep your car while catching up on payments
• Pay priority debts (taxes, support) over time
• Discharge remaining unsecured debts after plan completion

Your monthly payment is based on your disposable income after necessary expenses. Wenarsky & Goldstein will negotiate a plan that fits your budget and maximizes creditor payoff.

As a personal bankruptcy lawyer, we file in the correct federal court for your borough or county. New York has four federal bankruptcy districts. We know which one applies to you and how each court handles cases.

If wage garnishment or creditor calls are wearing you down, we can act fast. Filing for bankruptcy triggers an automatic stay that stops most collection efforts immediately.

Focused Practice in Bankruptcy Law

Our firm focuses on bankruptcy relief. We are not a general practice firm that handles a little of everything. We handle Chapter 7 and Chapter 13 bankruptcy cases daily. That focus means we know what works and what does not. Your case gets the attention it deserves.

All Five New York Boroughs Covered

We serve clients across Manhattan, Brooklyn, the Bronx, Queens, and Staten Island. No matter where you live in New York City, you can work with our team. We know the federal courts and filing rules that apply to New York filers. Geographic reach is never a barrier.

Client-First Approach Since Day One

Attorney Jenee K. Ciccarelli and Scott J. Goldstein lead every case with one goal: your best outcome. We keep communication clear and honest. You always know where your case stands. No surprises. No runaround.

How Bankruptcy Works in New York

Bankruptcy is a federal process governed by the US Bankruptcy Code. When your debts exceed your ability to pay, you can file a petition with the bankruptcy court.

Filing for personal bankruptcy in New York follows a clear federal process, but local courts and rules shape how it plays out. 

Knowing what to expect at each stage helps you move forward with confidence.

Here’s what happens:

• Case review and filing preparation 
• Federal law requires you to complete an approved credit counseling program
• Your attorney files your bankruptcy petition with the appropriate US Bankruptcy Court. New York has four federal districts: Southern, Eastern, Northern, and Western.
• Automatic stay takes effect within 24 hours
• The trustee is appointed to review your assets and debts
• You attend the 341 meeting, where the trustee asks questions you
• Creditors are paid according to the bankruptcy law priority
• Discharge is granted, eliminating most remaining debts

Not all debts are dischargeable. Child support, spousal support, most student loans, and recent tax debts are typically exempt from bankruptcy. But credit cards, medical bills, personal loans, and old tax debts can usually be eliminated.

Benefits of Filing Personal Bankruptcy in New York

Bankruptcy offers immediate relief and long-term financial freedom:

• Stop creditor harassment instantly with the automatic stay
• Eliminate credit card debt, medical bills, and personal loans
• Prevent foreclosure and keep your home
• Stop wage garnishment and bank levies
• Discharge old tax debts (if they meet IRS criteria)
• Keep retirement accounts and pensions fully protected
• Rebuild credit faster than struggling with unpayable debts

 Potential Drawbacks to Consider

We’ll also discuss the trade-offs:

• Chapter 7 stays on your credit report for 10 years (Chapter 13 for 7 years)
• Possible loss of non-exempt assets in Chapter 7
• Temporary impact on the ability to obtain new credit

Most clients find the benefits far outweigh these concerns—especially when the alternative is years of financial stress and aggressive collection actions.

Frequently Asked Questions

1. How Much Does It Cost to File Bankruptcy in New York?

Court filing fees are $338 for Chapter 7 and $313 for Chapter 13. Attorney fees typically range from $1,500-$2,000 for Chapter 7 and $3,500-$5,000 for Chapter 13.  

2. Will I Lose My House If I file for Bankruptcy in New York?

No, if your home equity is $204,825 (or $409,650 for married couples filing jointly). The New York homestead exemption protects this amount. If you’re current on mortgage payments or file Chapter 13 to catch up, you can keep your home. 

3. How Long Does Bankruptcy Take in New York?

Chapter 7 cases typically conclude in 90-120 days. Chapter 13 cases last 3-5 years, depending on your repayment plan. The automatic stay begins the day you file, providing immediate protection.

4. Can I Keep My Car in Bankruptcy

Yes, if the vehicle’s equity is under $4,825 (or you’re current on payments). You can also “reaffirm” a car loan in Chapter 7 or include catch-up payments in a Chapter 13 plan.

5. Will Bankruptcy Stop Wage Garnishment?

Yes, immediately. The automatic stay prohibits creditors from continuing garnishments once you file. We can often recover garnished wages from the previous 90 days.