Sometimes life can throw a curve ball at you. Sometimes that ball is financial in nature. First, realize that you are not alone. Two, realize that there are people willing to help and ways to solve the problem at hand. Take for instance an imminent foreclosure, eviction, car repossession, or wage garnishment. These may be circumstances where a debtor may not have time to file the full assortment of paperwork for a bankruptcy and may have no choice but to file an emergency bankruptcy petition. The automatic stay that immediately goes into effect can prevent some of these actions from occurring at that moment. Let’s look at emergency bankruptcy including the forms that are needed and how this can help you handle the curve ball that life has thrown at you.
Let’s face it, bankruptcy is labor intensive in the amount of information and paperwork that is required. Sometimes it is necessary to file a “skeletal” petition in bankruptcy in order to get the benefits of the automatic stay and stop that foreclosure or motor vehicle seizure or end that ongoing expensive litigation and other untoward actions of creditors. This does not mean that the paperwork is over for you. Once the emergency bankruptcy petition goes into effect the rest of the paperwork will be due at various steps decided by the court. Do not think you got away with avoiding the 50 or more pages of documents that list all of your assets, debts, income, expenses, and detailed statements concerning your financial history. Your bankruptcy attorney should be able to request an extension of time on the filing of the remaining paperwork because of the emergency nature of the following.
What documents are needed for an emergency bankruptcy? For a bare bones petition the following documents are usually needed:
- The bankruptcy petition – This is the first three pages of the petition. It includes your personal information, the approximate amount of your debt, and the number of creditors.
- The Creditor matrix – This is a list of all of your creditors and any other party that you have to notify about your bankruptcy.
- Certificate of Credit Counseling -If you did not receive credit counseling prior to filing, then you must file a motion to explain any exigent circumstances that kept you from obtaining the counseling. These are rarely allowed.
- For a Chapter 13 Bankruptcy you may also have to file a pay order that provides for estimated plan payments to your Chapter 13 trustee.
Once you have received the Emergency Bankruptcy petition you will have a set time to hand in the remaining paperwork – usually 14 days. If the paperwork is not completed your case may be dismissed. Be sure to consult with a qualified bankruptcy attorney about your needs in an emergency bankruptcy case.