Chapter 7 Bankruptcy Lawyer New York
Free, confidential consultation with New York bankruptcy attorney William Waldner. Meet in person, by phone or over Zoom.
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- William personally oversees your case
- Chapter 7 and Chapter 13 across New York
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Schedule a Free Bankruptcy ConsultationFree and confidential. Safe & private.
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What is Chapter 7 Bankruptcy?
Chapter 7 bankruptcy is a form of debt relief intended to help honest individuals get a fresh start by discharging most debt. It is the most common form of bankruptcy. Chapter 7 bankruptcy is sometimes called “liquidation bankruptcy” because certain assets may be liquidated to repay creditors. However, chapter 7 bankruptcy is more commonly known as “fresh start bankruptcy” because the majority of debt discharged when filing chapter 7 is wiped clean without repayment or the liquidation of assets.
Who Qualifies for Chapter 7 Bankruptcy in New York?
Not everyone qualifies for Chapter 7, and the requirements vary by income, household size, and financial situation. At the Law Office of William W. Waldner, we make the qualification process simple so you can quickly understand your options.
You may be eligible for Chapter 7 if you:
Earn less than the New York median income for your household size
Pass the federal means test
Have mostly unsecured debt such as credit cards, medical bills, or personal loans
Have little disposable income left over after paying essential monthly expenses
Have not recently received a Chapter 7 discharge
If you’re unsure whether you qualify, we can review your finances and give you clear answers in your free consultation.
Not sure which chapter fits you? Take the free 2-minute Chapter 7 or Chapter 13 quiz and get an instant first read on your situation.
Should I File for Bankruptcy?
If you are burdened with extensive debt, filing chapter 7 bankruptcy in NYC may be an ideal form of debt relief. With chapter 7 bankruptcy your unsecured debt, such as personal loans, medical bills, or credit card debt is discharged, or wiped clean, giving you a fresh start towards a bright financial future. Chapter 7 bankruptcy is especially helpful if you are being harassed by collections agencies, having your wages garnished, or have a judgment issued against you.
Benefits of Filing Chapter 7 Bankruptcy in NYC
- Become Debt Free!
- Find Relief from credit card debt, personal loans, or medical bills
- Stop wage garnishment and collection efforts
- Often receive your discharge in about three to four months in a straightforward case
- Keep your property through legal exemptions
- Improve your credit score and eligibility for loans in the future
Common Concerns & Misconceptions About Chapter 7 Bankruptcy
Many people delay filing because of fear or misinformation. Here’s the truth:
You won’t “lose everything.” Most clients lose nothing.
It is highly unlikely your employer will be contacted. It is not guaranteed, because the trustee may contact an employer, but I cannot think of an instance where that happened. More on who finds out.
You can rebuild credit soon after discharge. Many clients qualify for auto loans, credit cards, or improved credit scores within months.
Filing does not make you a failure. Bankruptcy is a legal tool created to give honest people a fresh start.
We explain everything clearly and make sure you feel supported during every step.
Is filing for Bankruptcy a Bad Idea?
No. For some people, bankruptcy can be a very good thing. Bankruptcy protection is an important tool for the stability of our economy and the well-being of hard-working individuals who become overwhelmed with debt. When clients file for Chapter 7 bankruptcy protection, they are taking productive steps to overcome difficult times.
Unfortunately, there is a stigma associated with bankruptcy that prevents many responsible adults from seeking debt relief through this legal channel. Much of the stigma associated with bankruptcy is founded on myths and falsehoods. If you are drowning in seemingly insurmountable debt, filing for Chapter 7 bankruptcy may be the most responsible, effective, and prudent strategy for resolving your financial situation.
Filing for bankruptcy may not always be your best option, but for many individuals, Chapter 7 is the best option. For those people, hiring a bankruptcy attorney to guide them through the process and protect their property from liquidation is most likely the smartest, safest, and, in the long run, least expensive way to file.
Will filing for Bankruptcy get rid of all my debt?
Chapter 7 discharges (gets rid of) most unsecured debt. This is why it is commonly referred to as “fresh start” bankruptcy. If your case proceeds normally, the court enters a discharge order and you are no longer personally liable for the debts it covers. Certain debts survive a Chapter 7 discharge, including most student loans, recent taxes, child support and alimony, and debts arising from fraud.
Will I lose my assets if I file chapter 7 bankruptcy?
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 Chapter 7 trustee can sell it to pay creditors, so Mr. Waldner reviews your property and any liens with you before you file. Exemptions often protect a car, a home and other important possessions, depending on your facts.
How much does bankruptcy cost in NYC?
How much your Bankruptcy costs depends on several factors: filing fees, fees for mandated education courses, fees for acquiring the necessary information for filing (such as credit reports) and preparation/representation fees.
How Does Chapter 7 Bankruptcy Work in New York?
In order to file chapter 7, an individual must meet specific qualifications set by the federal Bankruptcy Code.
Before filing for bankruptcy, you should determine if you are eligible for filing under chapter 7. This is best done during a free consultation with a bankruptcy lawyer.
Why You Should Hire an Experienced NYC Bankruptcy Attorney
Some people consider filing on their own, but in NYC and New York State, experienced counsel matters. We can help you:
Ensure your paperwork is complete, accurate, and filed correctly the first time, minimizing risk of dismissal or conversion.
Maximize your exemptions under New York law so you keep more of your property.
Navigate creditor harassment, wage garnishments, and judgments more effectively.
Strategize whether Chapter 7 is right for you—or whether Chapter 13 or another alternative might yield better outcomes.
Stay on track through deadlines and required courses so you don’t jeopardize your discharge.
With us by your side, you’ll get:
Straightforward guidance every step of the way, in plain English (no legal jargon).
Strategically tailored advice specific to New York rules (so you don’t get blindsided).
A dedicated attorney who will walk with you through the process until your discharge is granted.
Why File Chapter 7 With Us
At our Midtown Manhattan law firm, we understand how overwhelming substantial debt can feel, especially when you’re facing escalating collection calls, wage garnishment, or the stress of judgments. Filing for Chapter 7 bankruptcy gives you a chance to reset, eliminate many of your unsecured obligations, and regain control of your financial future.
With us by your side, you’ll get:
Straightforward guidance every step of the way, in plain English (no legal jargon).
Strategically tailored advice specific to New York rules (so you don’t get blindsided).
A dedicated attorney who will walk with you through the process until your discharge is granted.
What You Need to Have Before Filing
To make our free consultation as efficient and useful as possible, please bring or be ready to provide (or at least discuss) the following:
A list of your creditors, including names, addresses, and approximate amounts owed.
Your most recent tax returns (typically the last one to two years).
Documentation of your income (pay stubs, bonuses, side jobs), as well as your spouse’s income if filing jointly.
A summary of your monthly expenses: rent/mortgage, utilities, car payments, insurance, childcare, medical, etc.
A list of any assets: home, car, investment accounts, retirement, liens or judgments, and any property you own.
Any notices of wage garnishments, judgments, or collection lawsuits you’re dealing with.
File For Chapter 7 Bankruptcy in New York
If you’re ready to explore relief and start rebuilding, contact us today for a no-obligation consultation. We’ll review your unique situation, explain your options (including cost, timeline, and whether Chapter 7 is your best choice), and give you clear next steps to move forward.
Call or Text: (212) 244-2882, available 24/7. Let us guide you toward a fresh financial start, so you can turn the page and focus on what comes next.
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Read the article →Did you know? Surprising facts about bankruptcy
Tap a card to open it. A few stories and numbers you probably have not heard.
01HistoryA 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.
03By 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.
02The 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.
04The 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.
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.
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