Sometimes you need to stop a creditor’s action fast. Filing for bankruptcy can help. When you open a case, the court puts an automatic stay in place that prohibits most creditors from continuing collection actions against you (exceptions exist). But, completing all the bankruptcy forms isn’t a quick process. If time is running short, you can use a fast online bankruptcy filing process known as an emergency bankruptcy filing (or skeleton filing), get the automatic stay in place, and submit the remaining documents later. Filing Emergency Bankruptcy Forms OnlineThe average bankruptcy petition can easily consist of upwards of fifty pages once completed. But when you’re facing a foreclosure auction, repossession, wage garnishment, collection lawsuit, or another time-sensitive situation, getting all of the paperwork done might not be feasible. You have another option.When you need to file a quick bankruptcy, you can get your bankruptcy forms filed online fast. Plus, you can access online filing at any time of the day, any day of the week, and start the online filing process by uploading only a small percentage of the required forms: Finalizing a Skeleton Bankruptcy FilingIf you don’t file the additional documents within 14 days, your skeleton bankruptcy case will be dismissed. Also, be aware that some courts require other forms. You’ll find the requirements in the local rules posted on your court’s website. Steps in an Emergency Bankruptcy FilingFor an emergency filing, you’ll want to follow these steps: Emergency Circumstances in BankruptcyIt is rarely a good idea to file an emergency bankruptcy if you can avoid it. Bankruptcies are paper-intensive, and bankruptcy law requires you to fully, accurately, and honestly disclose all of your assets, debts, income, expense, and various financial information. Filing a petition also triggers deadlines you’ll be required to meet. If you file a bankruptcy too hastily, you might make mistakes that could cause you difficulty later, including the dismissal of your case or a denial of your bankruptcy discharge. There are even criminal penalties if the court finds you were intentionally evasive or less-than-truthful in your statements and paperwork. However, you might not be able to avoid filing an emergency bankruptcy petition. An emergency petition can help prevent the following: When you file for bankruptcy, the court puts in place the “automatic stay.” The automatic stay is an order that prevents most creditors from moving forward with collection actions against you. Keep in mind that the stay will be temporary when it comes to foreclosure, repossession, and evictions in Chapter 7. A Chapter 7 bankruptcy doesn’t have a mechanism to fix those problems. In Chapter 13, you can catch up on delinquent mortgage and car payments if you can afford it. You might be able to fix an eviction if you can bring your payments current in a reasonable period (which is shorter than most people need). Filing Requirements for an Emergency PetitionAn average bankruptcy filing can contain 50 or more pages of documents that list all of your assets, debts, income, expenses, and detailed statements concerning your financial history. Sometimes you don’t have the time to complete all of the necessary paperwork. Here is a basic breakdown of the minimum that you must complete, sign, and file to start your bankruptcy case. Minimum FormsThe following documents are the minimum that you must file to start your Chapter 7 case (often called the skeleton petition): Notifying Creditors about the Emergency BankruptcyYou likely need to stop a collection proceeding if you’re using this process. You can’t depend on the court to alert your creditors. Why? It the court clerk about a week to send out a notice of bankruptcy. Here’s what you do: You or your attorney should immediately send notice of your bankruptcy filing directly to the creditor if you need to stop a foreclosure, repossession, wage garnishment, lawsuit proceeding, or some other action. Be sure to include the court in which you filed, your case number, and the filing date. When Can an Emergency Bankruptcy Filing Be Used?There are certain scenarios in which filing for an emergency bankruptcy may be necessary. Examples of these are when an automatic stay is required immediately to help prevent the following collection actions from occurring, such as: Although it is not necessary to point to a specific emergency, it does help to prove that there is a real case and that the debtor genuinely needs relief from debt and is not simply abusing the court’s powers. In general, bare bones bankruptcy cases typically involve filing the following items: A debtor must still comply with the remaining requirements found in all bankruptcy cases, but a skeleton filing will buy them some time and keep creditors at bay while they are compiling the rest of the documents. Benefits and Limitations of Emergency BanBefore filing a petition for an emergency bankruptcy, a debtor should be aware of the benefits and limitations involved in the process. Some benefits of filing for emergency bankruptcy may include the following: Do I Need to Hire a Lawyer for Help Filing for Emergency Bankruptcy?Handling a bankruptcy matter without the assistance of a legal expert can be very stressful. These types of cases require strict attention to detail, thorough knowledge of the law, and proper compliance with necessary procedures. For many, bankruptcy cases can also be unsettling due to the subject matter involved, namely, your finances. Therefore, if you need to file for emergency bankruptcy, it may be in your best interest to contact a local bankruptcy lawyer as soon as possible. An experienced financial lawyer will already be familiar with the relevant bankruptcy laws and legal processes, will be able to determine whether or not you are eligible to file for emergency bankruptcy, and can relieve some of the stress that filing for bankruptcy may cause. In addition, your lawyer can assist you with any supplemental bankruptcy filings, inform you about the risks and benefits of filing for bankruptcy in general, and provide representation in court during your bankruptcy proceedings. What Is a Bankruptcy Lawyer?A bankruptcy lawyer specializes in giving legal advice to a client about bankruptcy, prepares legal documents for the client and represents the client in court. An attorney must hold a law degree and be licensed in the state where they do business. As your guide through the bankruptcy process, a lawyer can advise you about matters such as: Overall, a bankruptcy lawyer can steer you in the right legal direction. If you handle a bankruptcy case without a lawyer, you may make legal mistakes that carry long-term financial consequences. What To Expect From a Bankruptcy LawyerIf you hire a bankruptcy lawyer, here’s what to expect: Free Initial Consultation with LawyerIt’s not a matter of if, it’s a matter of when. Legal problems come to everyone. Whether it’s your son who gets in a car wreck, your uncle who loses his job and needs to file for bankruptcy, your sister’s brother who’s getting divorced, or a grandparent that passes away without a will -all of us have legal issues and questions that arise. So when you have a law question, call Ascent Law for your free consultation (801) 676-5506. We want to help you!
Ascent Law LLC
8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
The post Filing An Emergency Bankruptcy first appeared on Ascent Law, LLC.
4.9 stars – based on 67 reviews
Does High Unemployment Rate Result In A High Divorce Rate? Does Single Parenthood Increase The Probability Of Teenage Promiscuity, Drug Use, And Crime? Does The Unilateral Divorce Laws Cause Child Weight Gain? Divorce Lawyer and Family Law Attorneys Ascent Law St. George Utah OfficeAscent Law Ogden Utah Officevia Ascent Law, LLC https://www.ascentlawfirm.com/filing-an-emergency-bankruptcy/
0 Comments
Leave a Reply. |
Probate LawyerProbate Lawyer in West Jordan Utah. If you need probate lawyer, trust attorney, inheritance counsel, living trust, last will and testament, call 801-676-5506 now for a free consultation. Archives
April 2023
Categories |