Should I file for Bankruptcy in New York City?


Manhattan has the nation’s highest cost of living and is actually double the national average according to the Council for Community and Economic Research’s 2013 cost of living index.  Brooklyn has the second highest cost of living, and Queens has the fifth. Competition for employment and housing is fierce and rental prices are outrageous.  Even with a good job you are not scratching at middle class unless you are making six figures.  A cupcake can cost you $6.  It’s no secret that New York City is a very expensive place to live.  A lot of us are overwhelmed by debts from simply trying to live here.  To survive in this jungle you have to be ahead of the pack, and you need to take action where other people do not.  If you are hurting financially like many New Yorkers then carefully filing for bankruptcy can be the most powerful way to set yourself apart from a sick herd.


Since it is so tough to live in Manhattan financially, it can be hard for many of us to see what the rest of the world is quickly coming to realize: the United States is in a massive recession.  Things are likely to get much worse before they get better for all of us.  Many distressed New Yorkers aren’t ready to admit this and are burying their heads in the sand.  Thinking they are doing the right thing many distressed people are ruining their finances by depleting savings accounts and retirement funds in a desperate attempt to pay their bills.  The powers that be would love to keep it this way.  The stigma of bankruptcy and the myths of its negative effects are perpetuated by powerful banks, toxic lenders and their cohorts that have strong influence on public perception.  They want you to think bankruptcy is bad, and people still dismiss bankruptcy without even looking into the pros and cons for their situation.  They’ll let their credit slip and their finances be destroyed before even seeking a free consultation from a bankruptcy attorney.   So many New Yorkers sadly lose their home, car, savings accounts and possessions when could have been easily protected under bankruptcy law.


People are coming around slowly, starting to see the benefits of bankruptcy relief in Manhattan.  Many more New Yorkers will need to file for bankruptcy in the next few years, but more people are likely to drag their feet and make their finances worse than to take action now.   If you are consumed by debt and file for bankruptcy today, your finances and your credit will be completely recovered within 15 months.  You will have a fresh start and your financial independence before many New Yorkers even pull their head out of the sand.


If you are reading this, it’s natural to assume you are curious about bankruptcy relief and whether or not it is right for you.  Take an easy next step and arrange a free consultation with a qualified bankruptcy attorney in Manhattan to get the answers for your situation.  It could be the best financial move you make and will put you ahead of a lot of our reluctant neighbors.  If you live in New York Ciry arrange a free consultation with the Law Offices of William Waldner online or by calling 212.244.2882.  We offer affordable debt relief assistance for all New Yorkers and have a 99% Chapter 7 Bankruptcy discharge record as of 8/31/16.

This article is intended for educational purposes only.  By reading this article no attorney-client relationship has been created.