New York Bankruptcy Lawyer | Get a Fresh Start in NY
Finding Your Way to a Fresh Start: A New York Bankruptcy Lawyer Can Help
As of October 2025, the following information applies.
Life in New York moves fast, and sometimes, so do financial challenges. If you’re overwhelmed by debt, calls from creditors, or the constant worry of how you’ll make ends meet, you’re not alone. The idea of bankruptcy can feel daunting, even frightening, but for many, it’s a necessary and effective path toward a fresh financial beginning. The good news? You don’t have to face it by yourself. A knowledgeable New York bankruptcy lawyer can guide you through every step of the process, offering the clarity and hope you need.
Understanding Bankruptcy in New York
Bankruptcy isn’t a one-size-fits-all solution; there are different chapters designed to address varying financial situations. Generally, for individuals in New York, the most common options are Chapter 7 and Chapter 13. Understanding which one might be right for you is the first critical step.
Chapter 7 Bankruptcy: The Liquidation Option
Chapter 7 bankruptcy, often referred to as liquidation bankruptcy, is designed for individuals who have limited income and significant unsecured debts. If you qualify, this chapter allows for the discharge of most unsecured debts, such as credit card debt, medical bills, and personal loans, typically without having to repay them.
Eligibility for Chapter 7 is determined by a ‘means test,’ which compares your income to the median income in New York State. If your income falls below the median, you likely qualify. If it’s above, further calculations are made to see if you have sufficient disposable income to pay back some of your debts.
Blunt Truth: Many people worry about losing all their possessions in Chapter 7. But New York law provides exemptions that protect a significant amount of your property, including your home, car, and personal belongings. It’s often not as dire as people imagine, and our seasoned attorneys help you understand exactly what you can keep.
Chapter 13 Bankruptcy: The Reorganization Option
Chapter 13 bankruptcy, or reorganization bankruptcy, is typically for individuals with a regular income who can afford to repay some or all of their debts over time. This chapter allows you to propose a repayment plan, usually lasting three to five years, during which you make regular payments to a bankruptcy trustee. The trustee then distributes these payments to your creditors.
Chapter 13 is particularly useful for those who want to save their home from foreclosure, catch up on car payments, or repay tax debts. It also offers protection from creditor actions while you’re in the repayment plan. Once the plan is successfully completed, any remaining dischargeable debts are eliminated.
Why You Need a New York Bankruptcy Lawyer
The bankruptcy process, whether Chapter 7 or Chapter 13, involves complex federal laws, strict deadlines, and extensive paperwork. Trying to navigate this legal landscape alone can lead to costly mistakes, delays, or even the dismissal of your case. That’s where a New York bankruptcy attorney becomes invaluable.
Expert Guidance and Strategic Planning
A knowledgeable bankruptcy lawyer does more than just fill out forms. They analyze your entire financial situation, helping you determine the most appropriate chapter of bankruptcy for your specific needs. They’ll explain the implications of each choice, ensuring you make informed decisions that serve your best interests. Mr. Sris, our founder and principal attorney, often says, “My focus since founding the firm in 1997 has always been directed towards personally handling the most challenging and complex criminal and family law matters our clients face.” While his primary focus may be different, the foundational legal reasoning and diligent approach he instills in the firm’s practice apply across all areas, including bankruptcy, ensuring every client receives robust and thoughtful representation.
Protection from Creditors
One of the immediate benefits of filing for bankruptcy is the automatic stay. This legal injunction temporarily stops most creditors from continuing collection activities, including lawsuits, foreclosures, repossessions, and harassing phone calls. Your New York bankruptcy lawyer will ensure this protection is immediately put in place, offering you much-needed breathing room.
Accurate and Complete Filings
Bankruptcy filings require meticulous attention to detail. Any errors or omissions can lead to delays, requests for more information, or even the rejection of your case. An experienced NY bankruptcy attorney will ensure all necessary documents are accurately prepared, filed on time, and comply with all federal and local New York bankruptcy court rules.
Representation in Court and Negotiations
While most bankruptcy cases don’t involve extensive courtroom battles, you will need to attend a meeting of creditors (often called a 341 meeting). Your attorney will prepare you for this meeting and represent you, answering questions from the trustee and creditors. In Chapter 13, your lawyer will negotiate with creditors and the trustee on your behalf to develop a feasible repayment plan.
“I find my background in accounting and information management provides a unique advantage when handling the intricate financial and technological aspects inherent in many modern legal cases,” shares Mr. Sris. This analytical rigor is exceptionally beneficial in the financial complexities of bankruptcy law, ensuring a thorough review of your assets and debts for the best possible outcome.
Life After Bankruptcy
Many people wonder what happens after bankruptcy. While it’s true that bankruptcy can impact your credit score, it’s often the first step toward rebuilding financial health. With diligent effort and responsible financial habits, you can often improve your credit score quicker than you might think.
Bankruptcy provides a fresh slate, freeing you from overwhelming debt and allowing you to focus on a stable financial future. It’s a chance to learn from past experiences and implement new, healthier money management strategies.
Choosing the Right New York Bankruptcy Law Firm
When searching for a New York bankruptcy law firm, look for a team that combines extensive legal experience with a compassionate approach. You need attorneys who understand the emotional toll of financial struggle and are committed to helping you find the best solution.
Law Offices of SRIS, P.C. has locations in Buffalo, NY, and our seasoned team is ready to provide you with a confidential case review. We’re here to offer relatable authority – direct answers blended with empathetic support. We understand the worries you’re facing, and we’re dedicated to helping you navigate this journey with confidence.
Mr. Sris emphasizes, “As someone deeply involved in the community, I believe it’s important to not only practice law but also to actively participate in shaping it, which is why I dedicated effort towards amending Virginia Code § 20-107.3 and achieving state recognition for cultural milestones.” This commitment to client well-being and community betterment extends to every case, ensuring you receive dedicated representation focused on securing your best future.
If you’re in New York and considering bankruptcy, don’t delay. The sooner you seek legal counsel, the sooner you can start on the path to financial recovery. Our experienced New York bankruptcy attorney team is here to listen, advise, and advocate for you.
Frequently Asked Questions
What’s the main difference between Chapter 7 and Chapter 13 bankruptcy in New York?
Chapter 7 bankruptcy is generally for individuals with lower income who need to eliminate most unsecured debts quickly, like credit card bills. Chapter 13, conversely, is for those with regular income who can repay some debt through a structured plan, often used to save a home or car. We can help you figure out which one fits your situation best.
Will I lose everything I own if I file for bankruptcy in New York?
It’s a common fear, but the answer is usually no. New York bankruptcy laws include exemptions that protect many of your assets, such as your home, car, and personal property, up to certain values. Our legal team is experienced in maximizing these exemptions to protect your possessions.
How does bankruptcy affect my credit score in New York?
While bankruptcy will impact your credit score initially, it also eliminates the debt that was dragging it down. For many, it’s the first step towards rebuilding a healthier credit profile. We can guide you on strategies for improving your credit after bankruptcy, offering a real chance at a fresh financial start.
Can a New York bankruptcy lawyer stop creditor harassment?
Absolutely. Once your bankruptcy petition is filed, an ‘automatic stay’ goes into effect. This immediately stops most collection activities, including harassing phone calls, lawsuits, and wage garnishments. It provides immediate relief and peace of mind, which is a major benefit of working with a lawyer.
How long does the bankruptcy process take in New York?
The timeline varies depending on the chapter. Chapter 7 cases are typically resolved in about 3 to 6 months. Chapter 13 cases, due to the repayment plan, can last 3 to 5 years. We’ll give you a clear understanding of what to expect based on your unique circumstances.
Do I have to go to court for a New York bankruptcy filing?
You’ll primarily need to attend a ‘Meeting of Creditors’ (also known as a 341 meeting) where the bankruptcy trustee and your creditors can ask questions under oath. Your attorney will prepare you thoroughly and be right there with you to provide support and representation during this meeting.
Can I file for bankruptcy in New York if I have a job?
Yes, having a job doesn’t prevent you from filing. If you have a steady income, Chapter 13 bankruptcy is often the chosen path, allowing you to create a manageable repayment plan. Even with a job, Chapter 7 may be an option depending on your income relative to New York’s median income and your expenses.
What debts cannot be discharged in New York bankruptcy?
Certain debts are typically non-dischargeable, including most student loans, recent tax debts, child support, alimony, and debts incurred through fraud. It’s important to discuss all your debts with a knowledgeable attorney to understand what can and cannot be eliminated through bankruptcy.
Will bankruptcy affect my ability to get a loan or mortgage in the future?
Initially, yes, but it’s not a permanent barrier. Lenders often look at your overall financial picture. After bankruptcy, with responsible financial behavior and consistent payments, many individuals can secure new loans, credit cards, and even mortgages over time. It’s about rebuilding, and we can offer guidance on how to do that effectively.
Is bankruptcy the only option for debt relief in New York?
Bankruptcy is a powerful tool, but it’s not the only one. Depending on your situation, alternatives like debt consolidation, debt management plans, or negotiating with creditors might be available. A confidential case review with our experienced team can help you explore all viable options and find the best path forward.
