Roseville Emergency Bankruptcy Filing Attorney
If you or a loved one is facing foreclosure, an automatic stay can help protect property against the grasp of creditors. At The Bankruptcy Group, we have the knowledge, skill, and experience to guide you through the entire bankruptcy process.
To discuss your case in a free, confidential consultation with one of our Roseville bankruptcy lawyers, call our law offices today at 1-800-920-5351.
How an Emergency Bankruptcy Filing Can Help You
An emergency bankruptcy filing takes place in specific situations where a person faces extreme difficulties due to financial hardship. For instance, if you are about to lose your home due to foreclosure, have your car repossessed, or have your wages garnished, you may want to file for an emergency bankruptcy. Filing for bankruptcy can protect you from your creditors. Once you file, you obtain the protection of what is known as an “automatic stay.” The automatic stay can help protect your home from foreclosure and let you keep some of your assets.
Before attempting to file for emergency bankruptcy, you will be required to take a court-approved credit counseling course. During this course, the debtor will receive guidance through financial education. The goal of this course is to help the debtor effectively budget, manage, and eliminate their debt. Once you have completed your credit counseling course, you will obtain a certification which you will need at least 24 hours before your emergency bankruptcy filing.
Documents Needed for Emergency Bankruptcy Filings
Unlike traditional bankruptcy filings, which require the presentation of many documents, an emergency bankruptcy filing only requires you to file the most essential documents to set the automatic stay in motion. To file for an emergency bankruptcy, you will need to complete forms including the voluntary petition, creditor mailing list, and a document known as exhibit D.
A voluntary bankruptcy petition shows that an individual is entering the bankruptcy process on his or her own volition. The debtor then proceeds to fill out their petition, which must include personal information such as their name, address, and the type of bankruptcy they are applying for.
Creditor Mailing List
A creditor mailing list, or “matrix,” is a list of all your creditors. You should make sure to include any person you may be indebted to. Make sure to provide accurate, truthful information.
Exhibit D (Credit Counseling Certificate)
Exhibit D is related to your credit counseling course. Once you have finished the course, you should attach your certificate to the Exhibit D form and file it with the bankruptcy court.
The court may order the presentation of other documents, along with any fees the court deems appropriate, following the rules and regulations set forth by the Bankruptcy Code.
Types of Emergency Bankruptcy Filings
There are two main types of bankruptcy that individuals may apply for:
Emergency Bankruptcy in Chapter 7
Chapter 7, also known as straight or liquidation bankruptcy, is the most common type of consumer bankruptcy. Through it, you can obtain the discharge of most or all of your unsecured debt. You can file an emergency bankruptcy in Chapter 7 as long as you have filed the required documents on time. For instance, you will need to submit the essential documents (voluntary petition, creditor mailing list, and exhibit D) with the court as soon as you possibly can. Once you have filed the required paperwork, you will obtain the protection of the automatic stay, and your Chapter 7 process will start.
During Chapter 7, the court will appoint a trustee who will be in charge of selling all non-exempt property in order to distribute the proceeds among your creditors. Once you have finished Chapter 7, the court will order the discharge of your unsecured debt.
Emergency Bankruptcy in Chapter 13
Chapter 13, also referred to as repayment plan bankruptcy, is another common type of bankruptcy available for people with unmanageable debt. Through it, debtors have the opportunity to devise a repayment plan that can take from three to five years and present it to their creditors. Once the creditors have accepted the plan – and assuming the court approves – you will then need to comply with all the stipulations outlined in your repayment plan. You can also file an emergency bankruptcy in Chapter 13. The documents needed to gain the protection of the automatic stay are the same as in Chapter 7.
Keep in mind that the court may order the presentation of additional paperwork as part of your bankruptcy process. It is crucial to provide all the information requested by the bankruptcy court accurately and on time. Failure to meet the requirements set forth by the court can result in the dismissal of your petition, which can leave you without the protection of the automatic stay. A skilled, knowledgeable bankruptcy attorney can help you file all your documents without delay.
Roseville Bankruptcy Lawyers Handling Emergency Bankruptcy Filings
If you or a loved one is facing foreclosure due to a difficult financial situation, we may be able to help. The knowledgeable and experienced Roseville bankruptcy attorneys at The Bankruptcy Group can help you obtain the protection you need to fend off your creditors. Let our skill, experience, and knowledge work for you during this difficult time. To discuss the specific circumstances surrounding your case in a free, confidential consultation, call our law offices today at 1-800-920-5351.