How to Find Bankruptcy Records in New York
New York is one of the liveliest and most affluent states of the United States, but it is also true that many people go bankrupt even in this rich place. If someone is way over his or her heads in debt, filing for bankruptcy is probably the last resort that he/she can resort to.
However, it needs to be carefully considered whether you want to file for bankruptcy or not as such, records are public records and will forever be reflected in your personal records. This article will aim to provide you with valid information on what bankruptcy means and how to conduct a New York Bankruptcy Records search successfully.
All You Need to Know About Bankruptcy
Bankruptcy refers to the legal proceeding that allows an individual to start fresh financially when he/she cannot pay his/her outstanding and accumulating bills. Federal law allows every person the right to file for bankruptcy and it is also the subject of federal courts. Filing for bankruptcy is a way in which you can put an end to the constant haggling from debtors to collect cash from you, as the government provides you a legal way to settle the debt.
Mainly there are two types of bankruptcies that a person can file and while conducting a Bankruptcy Records New York search, you would have to search for either of these two types of bankruptcies, depending on the type you had filed. These two types of bankruptcies are Chapter 7 Bankruptcy and Chapter 13 Bankruptcy. Rare cases might require you to file for a different kind of bankruptcy.
- Chapter 7- Chapter 7 bankruptcy allows you to seek a verdict from the court to discharge the debts you owe in exchange for some property that you own. Items that are excluded under the law cannot be seized when you file for Chapter 7 bankruptcy, but items that are not excluded are subject to selling and the revenue incurred is used to settle debts with your creditors. However, if your debts are in the form of car loans or mortgages, this type of bankruptcy is not suitable for you as it does not clear such debts and you would still be required to settle your dues with the creditors.
- Chapter 13- Chapter 13 bankruptcy is a way in which you can create a managed system to clear your debts and adjust them over time. The average time that such a bankruptcy filing allows you are between three to five years. This type of bankruptcy does not force you to settle your debts by selling off your valuable property, which might have been seized had you filed a Chapter 7 bankruptcy. Chapter 13 bankruptcy can only be filed if you have an adequate income every month that allows you to survive daily as well as keep at pace with the monthly payments you need to make to clear your loans.
How to Search for New York Public Bankruptcy Records
As per the Freedom of Information Law 1977, New York makes all public records subject to public perusal unless and until they have been deemed confidential by the government. New York Bankruptcy Public Records fall under this category and can, therefore, be accessed by any interested person.
Since bankruptcy records are maintained by federal courts, you would need to visit the district courts in the state of New York to gain access to such records.
You might be required to provide a written request while appearing with your state-sponsored ID while requesting such records in person. You can also make use of the public access platform PACER to access Bankruptcy Records in New York.
Other avenues you may utilize include EBN and special cases (depending on the date of the case) that might require you to make use of ECF-PACER Database, PACER ARCHIVE Database, and VCIS to access bankruptcy records. You can also reach the public helpline for district bankruptcy courts by dialing 866-222-8029 and following the orated instructions.