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Looking For Others From NY - EXEMPTIONS

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    Looking For Others From NY - EXEMPTIONS

    I don't really like lawyers.com because it is mainly advertisements for attorneys but once in a while I use their message boards.

    I posted about NY state exemptions just to be sure I had it right. I got my information off of legalconsumer.com which I thought was pretty good. It says NY state allows for $2500 in personal property ie clothing ect., and then $2500 in cash assuming one doesn't take the residence exemption - or up to 5k combined personal property & cash.

    So one of the lawyers got back to me and says this

    "I do not know what list you are using, but it is wrong. There is no limit on clothing and household furnishing. Cash, assuming you do not take the residence exemption, is $2500 for an individual."

    Anyone have any idea where I can go to be sure I have the correct exemptions for NY state? The attorney who replied to my post is probably right because even if I had over $2500 worth of clothing & household items & furniture, their resale value is not a real source of value & is insignificant when it comes to paying creditors. BUT then why do people go nuts trying to list everything & making it fall within a certain dollar guideline???

    I tried researching this on NY state bankrupcty site & Federal trustee site & came up with zilch. Utterly frustrating!

    Maybe a good idea for this site - to create links to each states exemptions?
    Filed Chapter 7 Pro-Se May 29, 2008
    341 July 1, 2008
    Discharged September 4, 2008
    Closed November 10, 2008 :-)

    #2
    Originally posted by danaf View Post
    Maybe a good idea for this site - to create links to each states exemptions?
    I wish this was possible, Dana. The reason we don't do this is because the state exemptions often change without notice. There's no way to keep up with all the changes for each state and ensure what we have posted is accurate all the time.

    It's better to do a fresh Google search for your state's exemptions. Check ALL the top hits, including the blogs and legal newsletters that come up. That's where I usually find the latest changes in state exemptions when I'm trying to help a member sort things out.

    Here's the best information I found online about New York's exemptions -


    New York bankruptcy exemptions. Find out the property you can keep after filing bankruptcy in New York.


    New York Laws on Wage Garnishments, Statute of Limitations on Debt and Bankruptcy Property Exemptions


    Your frustration about the inconsistency of information about states' exemptions is understandable - it is like hitting a moving target. This is one of the main reasons to consult with a bk lawyer who is up to date on your state's current exemptions to make sure you have the most reliable information if you file pro se. Hope this helps a bit.
    Last edited by lrprn; 03-09-2008, 11:02 AM.
    I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.

    06/01/06 - Filed Ch 13
    06/28/06 - 341 Meeting
    07/18/06 - Confirmation Hearing - not confirmed, 3 objections
    10/05/06 - Hearing to resolve 2 trustee objections
    01/24/07 - Judge dismisses mortgage company objection
    09/27/07 - Confirmed at last!
    06/10/11 - Trustee confirms all payments made
    08/10/11 - DISCHARGED !

    10/02/11 - CASE CLOSED
    Countdown: 60 months paid, 0 months to go

    Comment


      #3
      Originally posted by danaf View Post
      I don't really like lawyers.com because it is mainly advertisements for attorneys but once in a while I use their message boards.

      I posted about NY state exemptions just to be sure I had it right. I got my information off of legalconsumer.com which I thought was pretty good. It says NY state allows for $2500 in personal property ie clothing ect., and then $2500 in cash assuming one doesn't take the residence exemption - or up to 5k combined personal property & cash.

      So one of the lawyers got back to me and says this

      "I do not know what list you are using, but it is wrong. There is no limit on clothing and household furnishing. Cash, assuming you do not take the residence exemption, is $2500 for an individual."

      Anyone have any idea where I can go to be sure I have the correct exemptions for NY state? The attorney who replied to my post is probably right because even if I had over $2500 worth of clothing & household items & furniture, their resale value is not a real source of value & is insignificant when it comes to paying creditors. BUT then why do people go nuts trying to list everything & making it fall within a certain dollar guideline???

      I tried researching this on NY state bankrupcty site & Federal trustee site & came up with zilch. Utterly frustrating!

      Maybe a good idea for this site - to create links to each states exemptions?

      I beleive this is an accurate summary. In addition if you don't use the homestead exemption you can exempt $2500. There's also exemptions for retirement plans. There's a link to the detailed exemptions for your reading pleasure.

      It's not what we have in our lives, but who we have in our lives and the quality of those relationships.

      Comment


        #4
        In NY household goods- furniture and so on- are exempt as long as their garage sale value is less than $5,000

        Comment


          #5
          Originally posted by samantha625 View Post
          In NY household goods- furniture and so on- are exempt as long as their garage sale value is less than $5,000
          Do you have a source for this info ?

          Thanks
          It's not what we have in our lives, but who we have in our lives and the quality of those relationships.

          Comment


            #6
            Yes, the documents that our attorney gave us state that!

            Comment


              #7
              Originally posted by samantha625 View Post
              Yes, the documents that our attorney gave us state that!
              Are you using the homestead exemption ? Exempting any cash ?

              Thanks again !
              It's not what we have in our lives, but who we have in our lives and the quality of those relationships.

              Comment

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