If you were worried about losing property, cars, equity in your home if you filed a bankruptcy, those fears should have been erased on January 20th, 2011 when New York Law changed.
First, the value of the exemptions, or the “things you get to keep” have gone up under New York Law. Second, a person filing bankruptcy may now choose the “Federal Exemptions”. These are a different set of protected property that may be more appropriate for you depending on your circumstances. For example under New York Law it was often difficult to protect the second car for a single person, or the Harley, and it was often difficult to protect parts of the tax refund, especially if you owned a home that was worth more then the mortgage.
You need to have someone review the total property and income picture to advise you as to which exemption scheme you should choose. We would be happy to do that for you at your free consultation.