If you are considering filing a Chapter 7 bankruptcy in Staten Island, you are not alone. Many people in Staten Island file bankruptcy because the cost of livin
g is so high, especially if you live in the City. Many people who file for bankruptcy in New York have high medical bills, repossessions, foreclosures, garnishments and bank levies.
What You Need to Do to Qualify For a Chapter 7 Bankruptcy in Staten Island
To file a Chapter 7 bankruptcy in Staten Island, you need to pass the New York Chapter 7 Means Test, which was created in 2005 to stop people who make too much money and can afford to pay back at least some of their debts from getting Chapter 7 relief. The bankruptcy Means Test in New York allows only people who are under a certain income limit and truly need the relief of a Chapter 7 to file. To pass the Chapter 7 Means Test, you must fall under the median income for a household of the same size in New York. If your monthly income, based on an average from the last 6 months, is less than the median income for your family size in New York, then you pass the Chapter 7 Means Test. If you fall above the median income, will have to proceed to the second part of the Chapter 7 Means Test analysis.
New York Bankruptcy Discharge
When your bankruptcy proceedings have completed the Court will issue you a discharge. A discharge is your goal when filing a Staten Island bankruptcy. A discharge means that you no longer have to worry about paying your unsecured debts. Once a discharge is entered, creditors can no longer call or harass you. Debts that survive a bankruptcy are usually child support, recent tax debts, and alimony, but there are other exceptions as well. In order to get your discharge, it’s important that you file the correct paperwork and attend your Meeting of Creditors. Your New York bankruptcy discharge is not guaranteed and can be denied if you don’t go to your creditors’ meeting or are dishonest in your bankruptcy forms so it’s important that you follow each step carefully. If your discharge is denied, your creditors can still go after you for the amounts you owe.
What Happens If I Fail The Means Test for New York
If you fail the bankruptcy Means Test in Staten Island, our office can help you. We give free consultations which can be the perfect opportunity to learn more about your options and discuss your issues with the Chapter 7 Means Test with an experienced lawyer. Our lawyers can walk you through the bankruptcy process and ensure that you qualify. We will also prepare you for your Court hearing which often times people find scary! Our experienced bankruptcy lawyers are available to speak all the time and we can even travel to you if you are unable to come to us!