Bankruptcy Lawyer

Karra L. Kingston Esq. 160H Dinsmore Street Staten Island, NY 10314 (973)-979-9078 Https://bankruptcylawnynj.com karra@klkbankruptcylawyer.com What Is Bankruptcy? Bankruptcy is a legal process used to help people who fall into unfortunate circumstances get out of debt. Individuals and businesses can file bankruptcy to help them get back on their feet. For consumers and small businesses, bankruptcy can help them start over. The first type of bankruptcy protection available is Chapter 7 bankruptcy. A New York Chapter 7 bankruptcy, eliminates consumer's debt. To qualify for a Chapter 7 bankruptcy, individuals must pass a Means Test. The Means Test was created by Congress in 2008 to stop individuals with high wages from filing bankruptcy. Congress didn't think it was fair to allow these individuals to not pay their credit cards back. To qualify under the means test an individual's household income must be less than New York's median income for a family of ...