You may want to use Chapter 7 bankruptcy in New York, but that doesn't mean you're automatically eligible. You may have to choose another type, such as Chapter 13. The following are a few things that could mean you're ineligible.
The New York City Opera had to put in a bankruptcy filing over two years ago, unable to make ends meet. In a city so centered around culture and the stage, it's no surprise that two groups have stepped forward with revival plans to get it going again.
Perception and truth can be very different. You, like other New York consumers, may feel bankruptcy is a reflection of poor money management. You wouldn't be wrong in some cases, but the bulk of bankruptcies are caused by something many consumers cannot control -- extraordinary medical expenses.