MTA Bankruptcy Attorney for New York City

Traditionally speaking Metro Transit Authority employees still have a pretty good job.  Regular employment with some benefits is more than a lot of our bankruptcy clients have.  Nevertheless, even MTA employees are only one bad break away from financial ruin.  A family medical crisis or other personal financial problem could quickly turn a good financial situation bad regardless of your job or how much money you are making.  MTA employees in a financial crisis can find themselves in a serious dilemma since their salary is oftentimes more than the median income for New York City-meaning they won’t pass the bankruptcy means test as easily as some of our clients.  If you have a good MTA salary you won’t be automatically disqualified from Chapter 7 bankruptcy protection, but passing the bankruptcy means test might be trickier.

Under the US Bankruptcy Code anyone is allowed to seek bankruptcy protection.  The type of job you have, or who employs you doesn’t make a difference to your case.  Doctors, business tycoons, and even lawyers regularly file for bankruptcy protection.  New York State and federal employees also have the right to bankruptcy relief.  It doesn’t matter if you work for the government, or are even a United States citizen in most bankruptcy cases.

We have noticed an odd and disturbing trend among the MTA employees we have consulted with recently.  Sadly, many of them should have consulted with us sooner.  They have the unfounded belief that bankruptcy would be generally unavailable to them as MTA employees.  Because of these rumors many MTA employees have delayed or ignored seeking the bankruptcy advice that could have helped them earlier.  Instead of working with an attorney to eliminate their debts, they have tragically used their MTA pensions to pay down the toxic debts that would have been discharged. An MTA pension is exempt.  The trustee can’t take it, so it’s very unfortunate to see hard working people sacrifice pensions that could have otherwise been protected with the right advice.

Regardless of the difficulties MTA employees think they will have if they file bankruptcy they can find the same bankruptcy protection as everyone else.  We have successfully represented several MTA employees in both Chapter 7 and Chapter 13 cases and maintain a 99% Chapter 7 bankruptcy discharge record in New York City as of 8/31/16.  If you are an MTA employee struggling to make ends meet please contact the Law Offices of William Waldner online or at 212.244.2882 to arrange a free bankruptcy consultation today.

 **** DISCLAIMER:  This article is intended for educational purposes only.  By reading no attorney-client relationship has been created.  Our current perfect track record for Chapter 7 discharges in New York City does not guarantee a similar result for future clients.