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New Bankruptcy Exemption Law Takes Effect

On December 23, 2010, then Governor David Patterson signed into law a new Bankruptcy Exemption Law.  This change took effect on January 22, 2011. 

The new changes significantly increases the number of individuals and married couples who can now file bankruptcy.

The new law will allow individuals and married couples to now choose between New York State Bankruptcy Exemptions and Federal Exemptions.

The changes in the law increase significantly the allowable exemptions for a primary residence, motor vehicle, personal injury action, tax refund and other property.

To find out more information or to schedule a free office consultation,  call the Bankruptcy Lawyers at Jacoby & Jacoby toll free at (888)452-2629).

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