10 New York Bankruptcy Exemptions You Need to Know


Bankruptcy exemptions for New York cases are governed by state law rather than by the U.S. Bankruptcy Code. Under Section 522 of the U.S. Bankruptcy Code, a consumer domiciled in New York can exempt only personal and real property exempt under Section 5205 and Section 5206 of the New York CPLR, Section 3212 of the New York Insurance Law, and under New York Debtor Creditor and Law Section 282.

Here are 10 important New York bankruptcy exemptions you need to know before filing for Chapter 7 bankruptcy:

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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