New York Bankruptcy Law

Considering filing bankruptcy in New York? You need to understand New York bankruptcy law and exemptions.

As on overview we have listed some of the main exemptions, links to the federal courts serving New York, and some filing statistics for New York.

New York Exemptions

Homestead:
$150,000 for property in counties of Kings, Nassau, Suffolk, Queens, Bronx, Richmond, Rockland, Westchester, and Putnam; $125,000 for property in counties of Albany, Dutchess, Columbia, Orange, Saratoga, and Ulster $75,000 for all other counties
Details:
Property owned & occupied as principal residence (includes land + dwelling, shares in cooperative condominium units, and mobile homes), (homestead exemption)

Motor Vehicle:
$4000 ($10,000 if equipped for disabled debtor)
Details:
One motor vehicle (See CPLR § 5205(a)(8) for limits on exemption for support & alimony)


This is just and overview and there is a detailed list of the New York Bankruptcy Exemptions.

New York Bankruptcy Courts

If you need more information about the New York Federal Bankruptcy Courts you can click on the link for your district.

  • New York Southern District
  • New York Northern District
  • New York Eastern District
  • New York Western District

    • New York Filing Statistics

    Here are the counties in New York with the highest amount of bankruptcy filings.

    Year - County
    Total
    Ch7
    Ch13
    2012 SUFFOLK
    4771
    4238
    530
    2012 QUEENS
    4272
    3904
    367
    2012 KINGS
    3137
    2957
    176
    2012 BRONX
    2540
    2312
    227

    You can see the information for all counties by visiting the New York Chapter 7 and Chapter 13 bankruptcy filings by county page.

    Here are the most recently available statistics for monthly bankruptcy filings in New York.

    Year - Month
    Total
    Ch7
    Ch13
    2013 6
    2887
    2411
    473
    2013 5
    3384
    2828
    550
    2013 4
    3645
    3095
    546
    2013 3
    3356
    2806
    549
    2013 2
    2667
    2186
    479
    2013 1
    2738
    2252
    483


    You can see more data by visiting the New York Personal Bankruptcy Filing Statistics page.

    If you have question about filing bankruptcy please visit our Frequently Asked Questions Page or schedule a free consultation with a local attorney.