Filing For Bankruptcy in Queens New York

Individuals who are not able to keep up with their credit card payments, or are behind on their mortgages may use bankruptcy as a tool to help get them back on the right financial path. Hundreds of individuals in Queens file bankruptcy every day. Look at well-known rapper 50 Cent, a queens native, who used bankruptcy to get out of debt a few years ago. The first step to filing bankruptcy in Queens is to determine which chapter of bankruptcy the individual needs to file. There are two bankruptcy Chapters that individuals can file. Below we will go over both Chapters and what to expect when an individual files bankruptcy. 

Chapter 7 Queens Bankruptcy

Filing a Chapter 7 Queens bankruptcy can help individuals eliminate their debt. When individuals file for Chapter 7 their debt is eliminated and they can start over a new. Chapter 7 is the shortest bankruptcy. It takes about 3-4 months to complete which allows individuals who live in Queens to start rebuilding their credit in no time. 

 

To qualify for a Chapter 7 bankruptcy in Queens, individuals must qualify under a Means Test. The Means Test compares an individual’s household income with the median household income in New York. If the individual qualifies they can file bankruptcy in Queens. If the individual doesn’t qualify they will have to go to the second part of the Means Test. The second part of the Means test takes into account an individual’s expenses. Chapter 7 bankruptcy can be confusing and it is important to speak with a Queens bankruptcy lawyer that can help navigate the different bankruptcy laws. 

Chapter 13 Queens Bankruptcy

A Chapter 13 bankruptcy in Queens is for individuals who have high income and assets with equity. The Bankruptcy Court feels that individuals who live in Queens and have high income should not be allowed to get their debt wiped away. Instead, the Bankruptcy Court believes these individuals should file a Chapter 13 bankruptcy. In Chapter 13, bankruptcy individuals are required to pay their debts back over a 3-5 year plan. Filing a Chapter 13 bankruptcy allows individuals to catch up on their debt payments. A Queens bankruptcy lawyer can help individuals who are looking at filing a Chapter 13 to ensure that the Court approves their repayment plan. 

What Documents Do I Need to File a Queens Bankruptcy?

Individuals who want to file bankruptcy in Queens will need to gather some financial documents.

Some of the documents you will need to gather to file a Queens Bankruptcy are: 

  • Paystubs or payroll information for the last six months 
  • Two Years of Tax Returns 
  • Bank Statements from all accounts for the last three months 
  • Copy of Deed, mortgage statement and appraisal on any real property that is owned 
  • Copies of any Vehicle tiles and loan pay off statements, for any vehicles owned, leased, or financed by the filer.

There are also other documents that you will need aside from these. A Queens bankruptcy attorney will be able to discuss what documents you need to gather to ensure your case is handled properly. 

Where is The Bankruptcy Court in Queens Located?

The Bankruptcy Court for individuals living in Queens is located in Brooklyn, New York. The Eastern District of New York Bankruptcy Court hears bankruptcy cases from individuals living in Queens. This Court is located at 271-C Cadman Plaza East. 

Will I Have to Go To Court?

Yes, all individuals who file bankruptcy in Queens must attend a Court hearing. If you hire a lawyer to attend the hearing with you they will be able to prepare you for all of the questions you will be asked at Court. 

What Happens at a Queens Bankruptcy Hearing?

Individuals who attend their Queens Bankruptcy hearing will be asked questions by a bankruptcy Trustee that is assigned to their case. The Trustee ensures that everything included on the bankruptcy petition is true and correct. The bankruptcy Trustee represents individuals creditors. They want to ensure that the individual filing bankruptcy is not lying on their bankruptcy forms.

 The Court hearing is short and should only last five to ten minutes. If an individual files a Chapter 13 bankruptcy, they will need to attend another hearing in front of the judge. The judge will decide whether the individual’s Chapter 13 repayment plan will be confirmed. 

Why Hire a Queens Bankruptcy Attorney?

A Queens bankruptcy attorney can help individuals who file bankruptcy ensure their case goes smoothly. A bankruptcy lawyer will prepare all of the paperwork, file the bankruptcy petition with the Court, send all of the requested documents to the trustee assigned to the case, prepare the individual for the bankruptcy hearing, and attend any court hearings.

Ensure the right New York bankruptcy exemptions are Used

Filing bankruptcy can be complicated. Individuals with assets will need to ensure that their property is exempt before filing bankruptcy any property that is not exempt can be sold to pay off creditors. In New York, individuals are allowed to use either the Federal or the State bankruptcy exemptions. A bankruptcy lawyer will be able to determine which exemptions should be used to ensure their property is safe from creditors. 

Guiding you through the Counseling Courses 

Every individual who files bankruptcy in Queens must complete two courses. The first course is the credit counseling course and the second course is the debtor education course. The Bankruptcy Fraud Prevention and Consumer Protection Act of 2005 made it a bit more difficult for individuals to file bankruptcy. One requirement Congress made is everyone filing bankruptcy, must get counseling from a government-approved organization. A bankruptcy lawyer can help to ensure that you complete the courses through an approved counseling organization. Many courses out there are scams so it is important to speak with someone who can guide you in the right direction. 

Ease Your Stress by Hiring a Queens Bankruptcy Lawyer

Sometimes things in life can happen unexpectedly. Often, when something unexpected in life happens like divorce, medical diagnosis, unemployment, etc, individuals find themselves in financial trouble. Located in Howard Beach, New York for years Karra L. Kingston Esq. has been helping individuals in Queens file bankruptcy and start their lives over. Call Karra L. Kingston Esq. today at (973)-979-9078 or email us at karra@klkbankruptcylawyer.com for a free consultation. 

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