New York County (Manhattan) is the financial capital of the world and the most densely populated county in the United States. Bankruptcy cases are handled by the Southern District of New York, one of the busiest bankruptcy courts in the nation.
New York County (Manhattan) cases are filed in the Southern District of New York. The bankruptcy courthouse is at One Bowling Green, New York, NY 10004, in Lower Manhattan near Battery Park. This is one of the busiest bankruptcy courts in the country.
New York allows a choice between state and federal exemptions. State homestead: $179,975-$299,975 depending on county (New York County: $179,975). Vehicle: $4,825. Cash: $5,000. Personal property: varies by category. Federal exemptions available as alternative: homestead $27,900, vehicle $4,450, wildcard $1,475 plus $13,950 of unused homestead.
Exemptions determine what property you can keep in bankruptcy. See the full exemptions guide.
New York County (Manhattan) cases are filed in the Southern District of New York. The bankruptcy courthouse is at One Bowling Green, New York, NY 10004, in Lower Manhattan near Battery Park. This is one of the busiest bankruptcy courts in the country.
Yes. New York is one of the states that allows filers to choose between state and federal exemptions. The state homestead exemption for New York County is $179,975. The federal homestead exemption is approximately $27,900 per person ($55,800 for a married couple). Most Manhattan residents with significant home equity benefit from the state exemption.
The means test adjusts for local housing and transportation costs, which benefits Manhattan filers. Higher allowed expenses can make it easier to qualify for Chapter 7. However, the homestead exemption of $179,975 may be insufficient to protect equity in Manhattan real estate.
Use the free 1328(f) screener to check whether a prior discharge affects your eligibility.
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Our research was cited by the federal judiciary as Suggestions 26-BK-3 and 26-BK-5