New York Bankruptcy Lawyer | SRIS, P.C.
New York Bankruptcy Lawyer — What Are Your Options in Manhattan?
Facing overwhelming debt in Manhattan? A New York bankruptcy lawyer from Law Offices Of SRIS, P.C. can explain your options under Chapter 7 or Chapter 13 of the U.S. Bankruptcy Code. The process is handled in the U.S. Bankruptcy Court for the Southern District of New York.
Understanding Bankruptcy Law in New York
Bankruptcy is a federal legal process designed to provide individuals and businesses with relief from unmanageable debt. In New York, cases are filed in federal bankruptcy courts, such as the Southern District Court in Manhattan. The primary statutes governing this process are found in Title 11 of the United States Code, commonly known as the Bankruptcy Code.
Last verified: April 2026 | U.S. Bankruptcy Court for the Southern District of New York | New York State Legislature
Law Offices Of SRIS, P.C., founded in 1997 by former prosecutor Mr. Sris, brings over 120 years of combined legal experience to complex financial matters. Mr. Sris’s background in accounting and information systems provides a distinct advantage in analyzing financial records and building a strong case strategy.
Official Legal Resources
For the official text of the law, refer to Title 11 of the U.S. Code (Bankruptcy). For local court procedures and forms, visit the U.S. Bankruptcy Court for the Southern District of New York website.
Local Bankruptcy Process in Manhattan
Filing for bankruptcy in New York County involves specific local rules. The U.S. Bankruptcy Court for the Southern District of New York requires mandatory credit counseling before filing and a debtor education course before discharge. Trustees in this district closely review asset valuations, particularly for real estate and financial accounts.
- Complete mandatory pre-filing credit counseling from an approved agency.
- Gather all financial records: tax returns, bank statements, debt lists, and asset valuations.
- Your New York bankruptcy attorney prepares and files the petition, schedules, and statements, triggering the automatic stay.
- Attend the 341 meeting of creditors with your attorney and the court-appointed trustee.
- Fulfill any Chapter 13 plan payments or Chapter 7 asset liquidation requirements.
- Complete the post-filing debtor education course and receive your discharge order.
Potential Outcomes and Considerations
In New York County, bankruptcy can lead to the discharge of qualifying debts like credit cards and medical bills, but has specific impacts on assets, credit, and certain non-dischargeable obligations.
| Chapter | Primary Purpose | Typical Timeline | Asset Impact | Debts Addressed |
|---|---|---|---|---|
| Chapter 7 | Liquidation | 3-6 months | Non-exempt assets may be sold | Unsecured debts (credit cards, medical) |
| Chapter 13 | Reorganization | 3-5 year plan | Assets typically retained | Secured & unsecured debts, arrears |
Results may vary. Prior results do not aim for a similar outcome.
Why Choose Our Firm for Your Bankruptcy Case
Law Offices Of SRIS, P.C. was founded in 1997. Our team has a combined 120+ years of legal experience. We approach each bankruptcy case with a detailed review of your financial situation. Mr. Sris, the firm’s founder and a former prosecutor, brings a background in accounting and information systems, which is critical for accurately analyzing complex financial records and protecting your interests throughout the court process.
Contact a New York Bankruptcy Attorney Near You
Our New York location serves clients at the Manhattan bankruptcy courts. If you need a bankruptcy lawyer near New York County Supreme Court or other downtown legal centers, we can help. We serve clients throughout Manhattan, including Midtown, Lower Manhattan, the Upper East Side, Upper West Side, Harlem, Greenwich Village, SoHo, Tribeca, Chelsea, Hell’s Kitchen, East Village, Financial District, Chinatown, Washington Heights, and Inwood.
24/7 phone consultations — (888) 437-7747 — meetings by appointment only.
Law Offices Of SRIS, P.C.
50 Fountain Plaza, Suite 1400, Office No. 142
Buffalo, NY 14202
Toll-Free: (888) 437-7747 | Local: (838)-292-0003
By appointment only.
Frequently Asked Questions
Will filing for bankruptcy stop all creditor collection actions?
Yes. The moment your bankruptcy petition is filed, an “automatic stay” goes into effect. This court order legally stops most collection actions, including lawsuits, wage garnishments, harassing calls, and foreclosure or repossession proceedings.
Can I keep my home and car if I file for bankruptcy in New York?
It depends. New York has specific exemption laws that protect a certain amount of equity in your primary residence (homestead exemption) and vehicle. A skilled New York bankruptcy attorney can review your assets and apply the correct exemptions to help you retain essential property under Chapter 7 or through a Chapter 13 repayment plan.
What is the difference between Chapter 7 and Chapter 13 bankruptcy?
Chapter 7, or liquidation, involves selling non-exempt assets to pay creditors, with most remaining unsecured debts discharged. Chapter 13 is a reorganization, where you repay a portion of your debts over a 3-5 year court-approved plan, often allowing you to keep all your assets while catching up on missed mortgage or car payments.
How long does bankruptcy stay on my credit report?
A Chapter 7 bankruptcy can remain on your credit report for up to 10 years from the filing date. A Chapter 13 bankruptcy typically remains for 7 years from the filing date. The impact on your credit score lessens over time, especially with responsible credit behavior after the discharge.
Are all debts eliminated in bankruptcy?
No. Certain debts are generally non-dischargeable. These include most student loans, recent taxes, child support, alimony, debts from personal injury caused by drunk driving, and court fines or penalties. Your New York bankruptcy law firm can advise on which of your specific debts may be discharged.
Related Practice Areas: Civil Litigation Lawyer in New York County | Contract Lawyer in New York County
Other Locations: Business Lawyer in Albany County | Business Lawyer in Broome County
Learn More: New York Business Lawyer Information
Page last verified: 2026-04. Laws change. Contact Law Offices Of SRIS, P.C. at (888) 437-7747 for current guidance.
Under N.Y. Bus. Corp. Law § 101, state law governs this practice area.