New York City Bankruptcy Lawyer
Practicing bankruptcy law in New York since 2008, Attorney William Waldner personally oversees each case, so you get meticulous care and tailored guidance every step of the way.
- Free, confidential 20-minute consultation
- William personally oversees your case
- Chapter 7 and Chapter 13 across New York
- Meet in person, by phone or over Zoom
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Client Success Stories
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469 7th Ave, 12th Floor, New York
75 S Broadway, 4th Floor, White Plains
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Debt relief from a lawyer who personally oversees your case
Are overwhelming debts or relentless creditor pressure keeping you up at night? At the Law Office of William W. Waldner, proudly serving Midtown Manhattan, we understand how crushing financial burdens can be.
Whether you’re buried in credit card bills, facing medical debt, or facing foreclosure, our firm offers compassionate and experienced counsel to help you regain control. From Chapter 7 ‘fresh start’ filings that can wipe out unsecured debts, often in about three to four months in a straightforward case, to Chapter 13 reorganization plans that let you keep your home by paying back debt over time, Mr. Waldner will help you choose the best path forward.
3 Easy Steps to a Fresh Start on Your Financial Future
From your first call to your discharge, you work directly with William.
Step 1: Free consultation
Schedule a free, no obligation consultation with New York bankruptcy lawyer William Waldner.
Request a free consultation →Step 2: Choose your chapter
Get experienced counsel on which chapter of bankruptcy will provide the best form of debt relief for you.
Take the free Chapter 7 or 13 quiz →Step 3: We go to work
Let Mr. Waldner, Bankruptcy Lawyer in New York, go to work, halting collection efforts, protecting your assets, & discharging your debts.
Contact our office →Chapter 7 Bankruptcy
Chapter 7 Bankruptcy, also known as “fresh start” bankruptcy, is a form of debt relief intended to help individuals and families who are overwhelmed with unsecured debt, such as credit card debt, medical bills, and personal loans.
- Stop collection efforts and wage garnishment
- Get a fresh start on your financial future
- Chapter 7 discharges are often granted about three to four months after filing in a straightforward case
- Protect your personal property
Read more about Chapter 7
Advantages of partnering with a debt relief firm to file chapter 7
Filing for chapter 7 bankruptcy in NYC immediately protects you from collection efforts and wage garnishment and your personal debts are usually discharged (wiped clean), often within about three to four months of filing in a straightforward case. To qualify for chapter 7 bankruptcy in New York, you must pass the means test and attend credit counseling.
Most individual Chapter 7 cases are “no-asset” cases: after exemptions, there is nothing for the trustee to sell, and you keep your property. If you own something exemptions don’t cover, the trustee can sell it to pay creditors, so hiring an experienced NYC bankruptcy lawyer who reviews your property and liens before you file is your best bet for eliminating credit card debt, medical bills, and personal loans while protecting as much of your property as the law allows.
Chapter 13 Bankruptcy
Chapter 13 Bankruptcy, also known as “reorganization bankruptcy” is a form of debt relief intended to help married couples or individuals who are overwhelmed with debt, but make too much money to qualify for chapter 7 bankruptcy, or who have substantial equity in real estate.
- Stop collection efforts, wage garnishment, or foreclosure
- Keep your house, car, and other valuable assets
- Reduce the amount of debt you owe
- Repay a portion of your debts through a court-approved plan
Read more about Chapter 13
Advantages of partnering with a debt relief firm to file chapter 13
If you are behind in your mortgage payments, hiring a New York Bankruptcy attorney to help you file chapter 13 can stop foreclosure and keep you in your home. With chapter 13 you pay back a portion of your debt to your creditors, often without interest on unsecured debt, under a repayment plan that spans between 3 and 5 years.
When the repayment period expires, your remaining debt is discharged with a few exceptions such as student loans. Advantages of debt relief through Chapter 13 bankruptcy include reductions in debt, a repayment program you can handle, and keeping your non-exempt assets normally liquidated in chapter 7 bankruptcy.
Not sure which one fits you?
Answer a few quick questions and see which type of bankruptcy may fit your situation, and what to do next. Free, confidential, about 2 minutes.
How Bankruptcy Can Help You
A fresh start is closer than it feels.
Why Clients Trust the Law Office of William Waldner
William W. Waldner is a New York bankruptcy attorney with almost 20 years of experience dedicated exclusively to bankruptcy and debt relief. He helps individuals and families eliminate overwhelming debt, stop creditor harassment, protect their assets, and move forward with a true financial fresh start through Chapter 7 and Chapter 13 bankruptcy.
Clients work directly with William. His deep knowledge of New York bankruptcy courts allows for a highly personalized approach and strategies tailored to each client’s financial goals. William has been recognized for his results and professionalism, including honors such as Super Lawyers Rising Star. He has been featured as a personal finance expert by U.S. News, CNBC, The Wall Street Journal, CBS New York, and more.
The Law Office of William Waldner offers free, confidential consultations to help you understand your options and make informed decisions. If you are facing credit card debt, foreclosure, wage garnishment, or aggressive collections, help is available.
About William Waldner
Free quizzes: where do you stand?
Pick the one that fits your situation. Each takes about two minutes, there is no obligation, and nothing gets filed.
Start hereNot sure where to begin?Is bankruptcy right for you?An honest look at bankruptcy and the other ways to handle your debt.Take this quiz →
Chapter 7 or 13Chapter 7 or Chapter 13?See which type of bankruptcy may fit your income, debts and what you own.Take this quiz →
Tax debtCan bankruptcy wipe out your tax debt?What you owe the IRS or New York State, and what may be possible.Take this quiz →
Student loansCan bankruptcy help with your student loans?Federal or private, see which options may help, from repayment programs to a hardship discharge.Take this quiz →Home and carCan you keep your home and car?See how bankruptcy might protect your home, your car or your apartment.Take this quiz →
William Waldner on Forbes
William is a former Forbes Councils member. Click any article to read it on Forbes.
What Courts Look For In Chapter 13 Bankruptcies
There are a number of options that can help you and your business get through to brighter times.
Read on Forbes →
Understanding Chapter 13 Bankruptcy For Independent Business Owners In Need
Bankruptcy is never ideal. But even when the situation seems most dire, you do have options, and you are in control.
Read on Forbes →Knowing When To Bite The Bankruptcy Bullet
Even when working with a lawyer and accountant, there are some preliminaries you can consider on your own to prepare yourself for those conversations and help your professionals give you the best advice possible.
Read on Forbes →Did you know? Surprising facts about bankruptcy
Tap a card to open it. A few stories and numbers you probably have not heard.
01HistoryThe U.S. Constitution mentions bankruptcy
Article I, Section 8 gives Congress the power to pass uniform bankruptcy laws. That clause was in the original Constitution drafted in 1787, years before the Bill of Rights was added.
03Word origins“Bankrupt” means “broken bench”
The word traces back to the Italian banca rotta, a “broken bench,” since a banca was a moneylender’s counter. A popular story says a merchant’s bench was smashed when he could not pay, though word historians think the image is probably figurative.
05Famous filersMark Twain’s publishing company went bankrupt, and he later paid the debts
In 1894 Charles L. Webster & Co., the publishing house Twain owned and backed, failed. He was left responsible for its debts, went back to writing and lecturing to earn the money, and by 1898 had paid them off.
07Big numbersThe largest bankruptcy ever was filed right here in New York
Lehman Brothers filed in Manhattan on September 15, 2008, with more than $600 billion in assets, still the largest bankruptcy filing in U.S. history. The same federal Bankruptcy Code that handled Lehman also handles an individual’s Chapter 7 or Chapter 13 case.
09HistoryA signer of the Declaration of Independence went to debtors’ prison
Robert Morris, the financier who helped fund the American Revolution, was arrested over his debts in February 1798 and held in Philadelphia’s Prune Street jail. The Bankruptcy Act of 1800 let him and other debtors be declared bankrupt and released from debtors’ prison, and he walked out on August 26, 1801, after more than three years. He was freed from jail, not from his debts: claims from more than ninety creditors were still being sorted out afterward.
11HistoryWiping out debts is one of the oldest ideas in government
The earliest known debt cancellation was proclaimed around 2400 BCE by Enmetena of Lagash, in what is now Iraq. Later Mesopotamian rulers often announced a “clean slate” after taking the throne or after a disaster, and the Torah calls for certain debts to be forgiven at the end of every seventh year. The fresh start is thousands of years older than the Bankruptcy Code.
13Big numbersThe largest city bankruptcy in U.S. history was Detroit
Detroit filed on July 18, 2013, under Chapter 9, the chapter for cities and towns, with an estimated $18 to $20 billion in debt. Individuals and families file under Chapter 7 or Chapter 13 instead, the two chapters most people use.
02HistoryThe first bankruptcy law was for merchants only, and debtors could not file
Congress passed its first bankruptcy act in 1800. It covered only merchants and traders, and it worked only against a debtor (an involuntary case). It was repealed in 1803. Debtors were not allowed to file for themselves until the Act of 1841, and the system we use today comes from the Bankruptcy Code of 1978.
04Famous filersWalt Disney’s first studio went bankrupt
Years before Mickey Mouse, Walt Disney’s Kansas City animation company, Laugh-O-Gram Films, went bankrupt in 1923. The court records are still preserved by the National Archives. Disney moved to California and started over.
06By the numbersMore than half a million cases are filed in a single year
In the 12 months ending September 30, 2026, the federal courts received 621,111 bankruptcy filings, up 11.4 percent from the year before. If you are thinking about it, you are far from alone.
08The processYour “day in court” may last about ten minutes
In a typical consumer case there is no trial. A few weeks after filing, you attend a short meeting of creditors with the trustee, outside the judge’s presence, and answer questions under oath. One U.S. Bankruptcy Court describes it as usually lasting about ten to fifteen minutes. Creditors may attend, but they are not required to.
10HistoryFor about twenty years, the United States had no federal bankruptcy law
The Bankruptcy Act of 1867 ended in 1878, and no new federal act was in place until 1898. In between, people in debt had to rely on state-law remedies. When Mark Twain’s publishing company failed in 1894, it was technically handled as an assignment for the benefit of creditors under New York law, not as a federal bankruptcy case.
12The courtsBankruptcy judges serve 14-year terms, and the President does not appoint them
A bankruptcy judge is appointed by a majority of the judges of the U.S. Court of Appeals for that circuit and serves a fourteen-year term. For New York, that is the Second Circuit.
14Close to homeWhich federal court hears your case depends on where you live in New York
Manhattan, the Bronx and the counties north of the city, including Westchester and Rockland, are in the Southern District of New York, with courthouses in Manhattan, White Plains and Poughkeepsie. Brooklyn, Queens, Staten Island, Nassau and Suffolk are in the Eastern District. Each district has its own court, judges and trustees.
General information, not legal advice. Sources: U.S. Courts filing statistics, National Archives (Laugh-O-Gram case), U.S. Bankruptcy Court, N.D. Cal. (meeting of creditors), Hanover National Bank v. Moyses, 186 U.S. 181 (history of bankruptcy acts), Online Etymology Dictionary, American Bankruptcy Institute (Webster & Co. and the 1878 to 1898 gap), Mark Twain Project, American Bankruptcy Institute (Robert Morris and the Act of 1800), History of debt relief, U.S. Bankruptcy Court, E.D. La. (judges’ terms), Detroit bankruptcy, Bankruptcy of Lehman Brothers, U.S. Bankruptcy Court, E.D.N.Y., S.D.N.Y. Bankruptcy Court.
Midtown Bankruptcy FAQs
Straight answers to the questions people ask most.
How do I know if bankruptcy is right for my situation?
Deciding whether bankruptcy is the right choice depends on your overall financial situation, including your income, assets, debts, and long-term goals. Bankruptcy is not a one-size-fits-all solution; it’s a powerful legal tool designed to give honest debtors relief and a path forward.
If you’re facing overwhelming credit card balances, medical bills, business debts, or foreclosure, and other options such as negotiation or repayment plans have not worked, bankruptcy may be the right choice. We typically begin with a detailed financial analysis, considering not only the numbers but also the stress and uncertainty my clients are living with. For many New Yorkers, bankruptcy isn’t about “giving up,” it’s about finally taking back control of their future.
Will I lose everything if I file for bankruptcy?
No, you will not lose everything. This is one of the most common misconceptions I hear. Both federal and New York law provide exemptions that allow you to keep essential assets, such as your home (up to a specific equity amount), retirement accounts, a vehicle, household goods, and personal belongings. In fact, most of my clients keep nearly all of what matters most to them.
The bankruptcy process is designed to give you a fresh start, not to strip you of your dignity or stability. Part of my job is to strategically protect your assets and guide you through the exemptions that apply in your case so you can move forward without fear of losing the foundation you’ve built.
How long does the bankruptcy process take?
The timeline depends on the type of bankruptcy you file. For most individuals in New York filing Chapter 7, the process typically takes about three to four months from filing to discharge. Chapter 13, which involves a repayment plan, generally lasts 3 to 5 years, but the benefit is that it allows you to reorganize debt while keeping property you might otherwise risk losing.
My role is to make the process as smooth and efficient as possible. From the initial consultation to the final discharge, I ensure deadlines are met, paperwork is accurate, and you feel supported at every stage.
What debts can and cannot be discharged in bankruptcy?
Bankruptcy can discharge many types of unsecured debts, such as credit card balances, personal loans, utility bills, and most medical expenses. This is often life-changing, as it eliminates the most burdensome obligations that keep people trapped in cycles of debt.
However, certain debts are typically non-dischargeable in bankruptcy. These include child support, alimony, most student loans, recent tax debts, and debts obtained through fraud or intentional wrongdoing. That said, every case is unique, and part of my work is to evaluate whether exceptions or legal arguments may apply to your situation. My goal is to maximize the relief you receive while ensuring you fully understand which debts will remain.
What happens when I file?
When you file a bankruptcy with the court, the court order goes into effect immediately and all collection activity must stop. This includes stopping foreclosures, garnishments, repossessions, creditors calling and harassing you, and even collection efforts by tax authorities. The sooner you come in to the law office, the sooner you get relief (as long as we are able to file your case with the court immediately) and the more money you can save from your creditors. You will have a 341 meeting within three to six weeks of your bankruptcy filing. When the bankruptcy is finally over, you will receive a discharge order issued by the court. It is extremely important for you to hang on to your copy of this discharge order, even though the original is filed by the court. You will need this for future credit and we charge for copies, as we’ll have to go to our warehouse, pull your file and make an extra copy for you. The discharge order is the final and permanent order to stop all collection activities, and declaring that the debts are non-collectable.
What is the FDCPA and how does it apply to collection agents?
The Fair Debt Collection Practices Act (FDCPA) prohibits a collection agency from doing certain things:
- Collection agencies are not allowed to contact a third party unless they are trying to locate the debtor.
- Collection agencies are prohibited from contacting a debtor if they are represented by a lawyer unless the debtor or the lawyer gives them permission.
- No contact is allowed to be made before 8am or after 9pm by these agencies.
- The FDCPA prohibits any harassment, threats or abuse, obscenity, or the use of violence.
- The FDCPA prohibits the agent from lying about a debt, concealing their identity, using false or misleading statements, adding penalties, fees or interest to the amount owed, or from depositing post-dated checks ahead of schedule.
- The act requires a collection agency to first contact the debtor via an introductory letter which advises them, among other things, of the amount of the debt, name of the creditor, what to do if they feel that the debt is not valid, and that the collection agency will provide verification of the debt if it is disputed.
How long does it take to file for Bankruptcy?
Your Chapter 7 Bankruptcy case can sometimes be filed in the same day if it is an emergency. Typically, cases in my office are filed within 1 week of your initial consultation with my office. The amount of time to file depends on the complexity of your case.
If I file for Chapter 7 Bankruptcy do I have to give up my house, car and furniture?
Typically no, you may keep your house, car, and furniture if you remain current on your home and car payments. You will almost always keep all of your furniture because Bankruptcy Law protects it from seizure by creditors.
If I file for Bankruptcy, will my credit be destroyed?
Bankruptcy does affect your credit, but for many people the damage from unpaid debts has already happened. Before a petition is filed, my office pulls a 3-bureau credit report that shows your current estimated score and an estimate of where it could be about 15 months after filing. For many clients that projected score is higher than the pre-filing score, but no result can be promised. A discharge ends your legal responsibility for the debts. It does not require accurate history to be removed from your credit report. Discharged accounts may keep appearing, and the bankruptcy itself can remain for up to 10 years (Chapter 7) or 7 years (Chapter 13). After your discharge we help you review your reports and dispute anything inaccurate, such as an account that still shows a balance owed. You can start rebuilding your credit right away, and many clients are offered credit cards soon after discharge.
Can bankruptcy help with tax debt?
If you owe tax debt, one option is to file a Chapter 13 Bankruptcy. You can pay most of your tax debt back through the plan over time. In many cases, further interest and some penalties stop adding up once you file, although tax claims secured by a lien can still accrue interest, and the result depends on the type of tax and the year it arose. At my office, if an individual has tax debt we order and review IRS transcripts to test the 3 year, 2 year, and 240 day rules. If those tests are met, the tax debt may be dischargeable, depending on the type of tax, any lien, and your filing history.
How long will bankruptcy take?
A chapter 7 is normally open for about three to four months. A chapter 13 is normally open for a minimum of 3 years and a maximum of 5 years.
How long will Bankruptcy stay on my credit report?
For a Chapter 7 up to 10 years and for a Chapter 13 up to 7 years.
Didn’t the 2005 changes in Bankruptcy Law make it impossible to file for Bankruptcy?
No. The 2005 law added paperwork, credit counseling and a means test, but most people who need bankruptcy relief can still file. Whether you qualify for Chapter 7 or need Chapter 13 depends on your income, household size and situation, and Mr. Waldner will review that with you in your free consultation.
Can I go to court other than near where I live?
Generally no. Federal law (28 U.S.C. § 1408) ties where you file to where you have lived, had your principal place of business, or had your principal assets for most of the 180 days before filing. The court sets the location of your meeting of creditors. Some situations allow a choice of court, and Mr. Waldner will confirm the proper one for you.
Can I plan my bankruptcy?
Absolutely. A good strategy is like a chess game and should be pursued with the most experienced bankruptcy attorney.
Can I file chapter 7?
Whether you file a chapter 7 or a chapter 13 may be ultimately up to you. I certainly will give you my recommendations. Due to the amendments, it may not realistically be possible to file a chapter 7; however, I will always entertain that option with you and give you my advice thereon. Each chapter has its benefits, but it is most import to know your options.
What are the most common mistakes when filing?
Not showing up to the hearing and not listing all your assets and debts. Failure to show up to the hearing can result in your case being dismissed. Failure to disclose all your debts can be grounds for a dismissal and prosecution, and it can cause you to owe the debt after the bankruptcy is finalized. Also, under-estimating your tax refund can be a crucial mistake. The best policy is to provide your attorney with the best, most accurate information possible.
Is it possible for the court to not approve my chapter 7 or chapter 13?
Anything is possible. Whether your case is approved depends on your facts, the applicable law, the court’s decisions, and whether every required step is completed. Doing everything correctly and disclosing all information fully gives your case its best chance, but no result can be guaranteed.
Do you take personal checks?
Unfortunately, I do not normally take personal checks. The exception to this is if it is a partial payment, with a strict understanding that your case will not be filed until the check clears, payment is made in full, all necessary documents are provided, and you meet at a sufficient time with my office personnel, sign all necessary papers, and provide all requested documentation, I will accept your check. However, we absolutely will not accept any personal checks if you wish to have your case filed within two weeks. In other words, I require two weeks for a personal check to be cleared to my bank account.
Can I provide my own credit report?
No. We use up to the minute credit reports which are “tri-merge” and merge together all three credit reporting agencies, (i.e. Equifax, TransUnion, and Experian).
Can I file jointly with my spouse?
Yes.
Does my spouse have to file?
No. You can file jointly or alone. If you file alone, a debt you owe jointly can still be collected from your spouse, and your household income is still reviewed.
Will this affect my spouse’s credit?
Not if your spouse is not a filer. Your spouse’s own credit is not changed by your filing, except joint accounts and debts your spouse co-signed, which can be affected and can still be collected from your spouse. Mr. Waldner reviews those before you file.
Is my spouse responsible for my credit cards if they are an authorized user?
Generally no. An authorized user is not responsible for the debt, but a spouse who signed the application or is a joint holder is.
When would my spouse be liable for my credit cards?
If your spouse signed the original application or any addendum, then your spouse would be responsible for your credit cards.
Will my cosigner be protected?
In a Chapter 7, generally not: your cosigner stays responsible, and the creditor can pursue them. In a Chapter 13, there is a co-debtor stay for consumer debts only. While your case is open, the creditor is not allowed to try to collect from your cosigner (codebtor) on a consumer debt. The stay does not cover business debts, and your cosigner is fully protected in the long run only if the debt is paid in full through your plan. Read more about the Chapter 13 co-debtor stay and what happens to cosigners in bankruptcy.
Can I file a personal bankruptcy and not have it affect my business?
No. If it is a corporation, you own the stocks, as assets of the corporation. If you do not have a corporation, then you are the business. The good news is that, generally speaking, the court is only interested in the liquidation value of the assets. Therefore, this is a very important issue to discuss with your bankruptcy attorney.
What if I embezzled money from my employer and he is demanding back money?
A debt based on embezzlement is treated differently from ordinary debt. Under the Bankruptcy Code, a debt for embezzlement, larceny, or fraud while acting in a fiduciary capacity can be held non-dischargeable, and that exception applies in Chapter 13 as well as Chapter 7. So filing does not automatically erase this kind of debt, and Chapter 13 is not a general way around it. A bankruptcy discharge is also different from a settlement an employer agrees to, which would be negotiated separately and depends on the facts. Whether any of the debt can be discharged, and the best way to handle it, depends on the facts and where things stand (for example, whether there is a lawsuit, a judgment, or a criminal matter). Please raise this with Mr. Waldner in a confidential consultation before you file anything.
I have a life insurance policy and my daughter is listed as the beneficiary and it has a cash surrender value. Is this policy exempt?
In New York, the cash surrender value is often exempt in bankruptcy, but whether it is protected depends on the policy and how it is structured. A life insurance policy has an owner, an insured, and a beneficiary, and being named the beneficiary does not make someone the owner. If you own the policy, its cash surrender value is generally part of your bankruptcy estate unless an exemption protects it. If someone else owns a policy on your life, it is generally not your asset. Bring the policy to your consultation so we can review who owns it, who is named as beneficiary, and which New York exemption applies.
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Call Today For A Free Consultation
Begin your journey toward financial freedom with a free, no-obligation consultation, where we’ll carefully evaluate your financial situation and determine whether Chapter 7 or Chapter 13 is the right path for you. If you decide to hire us, we can then act quickly to stop creditor harassment, wage garnishment, and foreclosure attempts where the law allows. Our goal is to protect your personal property while providing a transparent and efficient route toward debt discharge.
Let William Waldner go to work for you, aggressively protecting your rights and future. Call or text (212) 244-2882 today, or schedule a meeting in person, by phone, or over Zoom, whichever is most convenient for you. Start fresh, stay secure, and reclaim control of your future today.