Our Services | About Us | Sitemap | Loans in Portland, OR

What is LoanexFastCash.com?

Our free service connects customers like you with dealers and lenders who provide a variety of products including new car price quotes, used car inventory and auto loans.

What our Users say about us?

“After getting through a costly and emotionally draining divorce, my financial state was in ruin. It seemed like an insurmountable task to find a way to pay for my new spousal support payments, my child support payments, back taxes, and divorce attorney fees.....more

---

“I am writing today to than you for the help (and hope) that you were able to provide to my husband and me. My husband and I both worked for a company that moved its operations to Mexico in 2008, and so.....more

Filing Bankruptcy in New York

Qualifying for the “Means test” while filing for bankruptcy under New York bankruptcy laws - how to go about it.

Filing bankruptcy in New York is not a cakewalk. Prior to the filing process, the debtor has to thoroughly understand the complexity involved in the legal process. In theory, New York bankruptcy filings are supposed to stop foreclosures, and help debtors facing severe financial stress keep their homes. However, as far as the ground reality is concerned, that is not the case. When debtors file for bankruptcy, they often fail to benefit significantly from the exemptions available within the bankruptcy statute. Therefore, the entire bankruptcy process turns out to be less fruitful and disadvantageous as far as debt relief is concerned.

As per New York bankruptcy law, the debtor has the choice to file for New York Chapter 7 bankruptcy, or opt for New York Chapter 13 bankruptcy. Chapter 7 bankruptcy, commonly referred to as the “Personal bankruptcy” should be the ideal choice for debtors finding it impossible to redeem their dues. As per the federal and state bankruptcy guidelines, the debtor has to mandatorily undergo a “means test” which will decide whether the applicant is eligible for bankruptcy, and if so which kind of bankruptcy. It’s important to qualify for this means test, since the applicant can’t file for bankruptcy if he or she fails this test. That’s where New York bankruptcy lawyers come in - they have the experience to guide you how to go about the means test, and help you qualify for your bankruptcy. So it’s suggested you contact your local bankruptcy lawyer and avail your bankruptcy consultation, and determine up to what extent the entire bankruptcy process will be beneficial for you.

State exemptions in New York

Federal bankruptcy exemptions not available in New York.

Homestead

Property including co-op, condominium, or a mobile home up to $10,000 (Husband and wife can double).

Wages

Total of 90% of all earnings from milk sales to milk dealers. Also 90% of all earned and unpaid wages received within 60 days prior to the property sale (100% exemptions for a few militia members).

Wild card

None available.

Automobiles

Motor vehicles up to $2,400 (Husband and wife can double).

Misc.

Alimony and child support. Property registered as a business partnership.

New York Bankruptcy Lawyer

As per New York bankruptcy laws, it’s not mandatory to have a legal representation when you file for bankruptcy. However, from a practical point of view, the debtor filing for bankruptcy generally does not have a legal background, and is unaware about the bankruptcy procedures. Therefore, it’s recommended you select a reputed New York bankruptcy attorney who can guide you with the means test, and provide legal help during the bankruptcy proceedings. So check out New York bankruptcy attorneys available in your area and select one to represent you.

The Loanex Fast Cash technology and processes are exclusively owned and Copyrighted © by theLoanexFastCash.com - 2010 LoanexFastCash, LLC. All Rights Reserved. This site is directed at, and made available to, persons in the continental U.S., Alaska and Hawaii only. Conversion to LoanexFastCash, LLC.

Feel free to checkout our Privacy Policy and Terms of Use.