Many people in financial distress are askance at filing a Chapter 7 bankruptcy for fear that their property will be taken and sold to pay off creditors. However, statutory exemptions allow individuals filing for bankruptcy to retain certain assets up to specified...
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Chapter 7 Bankruptcy
Passing the Means Test for Chapter 7
Blog updated on July 9, 2026 An individual debtor who wishes to discharge debts under Chapter 7 of the Bankruptcy Code must usually pass the means test. This device is intended to prevent people with higher incomes who could potentially repay a portion of their debts...
Post-Sandy: Can a Chapter 7 Bankruptcy be My Best Option?
What might climate change and a Brooklyn Chapter 7 attorney have in common? Plenty, given how major storms can be the event that pushes people and companies financially over the edge. According to research compiled on storms of $1 billion or more in damage between...