Bankruptcy Options In Nyc

Summary

Chapter 7 bankruptcy may be an option for managing business-related debt in New York City. With an income of $128,000, you may need to consider the means test for eligibility. However, for non-consumer debts, such as those from business investments and options trading, you might be exempt from the means test. Chapter 7 allows for the discharge of certain business-related debts, including personal loans and credit card debts used for business purposes. Consider consulting a bankruptcy attorney to explore your options and understand the implications of asset liquidation and dischargeable debts.

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Chapter *
Chapter * bankruptcy might be an option for you, but your income could be a factor in determining eligibility. Here are some details:
- Means Test: If your income exceeds the median for New York, you must pass a means test to qualify for Chapter *.
- Non-Exempt Assets: Some assets may be sold to pay off debts.
Would you like information on the means test or exempt assets?
What about chapter * non consumer debt
Chapter * bankruptcy for non-consumer debt (business-related debt) has specific considerations:
- Means Test Exemption: For non-consumer debts, you may not need to pass a means test.
- Asset Liquidation: Business assets can be liquidated to repay creditors.
- Dischargeable Debts: Business-related debts can be discharged.
Would you like more details on asset liquidation or dischargeable debts?
Dischargeable debts
Under Chapter * bankruptcy, certain business-related debts can be discharged, including:
- Personal loans used for business investments.
- Credit card debts incurred for business purposes.
- Debts from options trading.
Would you like more detailed information on which specific debts can be discharged under Chapter * bankruptcy?