The New York Financial Security Exemption Application is a document that is used by individuals who need to protect certain assets or income from the claims of creditors. This type of exemption is created by Section 5205 of the New York State Financial Security Act, and it allows individuals to keep some of their assets or income from creditors when they are in debt. There are three types of exemptions available: full exemption, partial exemption, and temporary exemption. The full exemption prevents creditors from reaching any of the assets or income listed in the application. The partial exemption allows the individual to keep certain assets or income from creditors, while the temporary exemption is for a period of time determined by the court. The application must include information about the individual's assets, debts, and income, as well as a summary of why the individual is applying for an exemption. The application must be filed with the court and approved by a judge.