Sacramento Emergency Bankruptcy Filing Attorney
If you or a loved one is at risk of losing a home to foreclosure, we may be able to help. Thanks to our dedication, skill, and knowledge of bankruptcy law, we are able to provide high-quality legal counseling and guidance throughout the entire bankruptcy process.
To learn more about the specific circumstances of your case in a free, confidential consultation with one of our Sacramento bankruptcy attorneys, call The Bankruptcy Group today at 1-800-920-5351.
What is an Emergency Bankruptcy Filing?
An emergency bankruptcy filing can be used by people who are at imminent risk of losing their property, such as their home or car. It exists to protect debtors against their creditors in specific circumstances. However, this does not mean you can make an emergency filing because your lender is calling you or sending you collection letters. You can file an emergency bankruptcy if you are facing a challenging situation such as foreclosure or repossession. You may wonder how can you benefit from filing bankruptcy in such a case.
When you file for bankruptcy, you get the protection of an “automatic stay.” The automatic stay is active as soon as you file for bankruptcy, and it helps protect your home and other assets against your creditors. Furthermore, an automatic stay prevents your creditors from performing collection actions.
Filing for emergency bankruptcy requires immediate action from the debtor and the fulfillment of specific requirements. First, you will need to verify which forms you need to present up front to set your bankruptcy wheels in motion. Generally, you can achieve this by talking to your bankruptcy attorney. One of the most critical documents in the emergency bankruptcy process is the Voluntary Petition (Official Form 101). In it, you will be required to provide personal information such as your name, address, and the type of bankruptcy you are petitioning for, among other information.
Second, you must provide the court with a list of all your creditors. You need to make sure you provide accurate and complete information, including your creditors’ names, addresses, phone numbers (if necessary).
Third, you will need to file your credit counseling certificate. To obtain your credit counseling certificate, you will need to complete a court-approved credit counseling course. In this course, you will be oriented on how to prevent and manage debt. Once you have finished your course, you will receive a credit counseling certificate. This certificate is essential to your emergency bankruptcy. Without it, the court may not grant you emergency bankruptcy.
The requirements for your emergency bankruptcy must be met without delay. Furthermore, all the information required by the bankruptcy court must be devoid of any errors, or you risk having your petition denied. Our Sacramento-based bankruptcy attorneys can help you understand how an automatic stay works and how you can obtain its protection by filing an emergency bankruptcy.
Can I File an Emergency Bankruptcy in Chapter 7 or Chapter 13?
Yes, you can file an emergency bankruptcy as part of your Chapter 7 or Chapter 13 bankruptcy. An emergency bankruptcy can be submitted in cases where you are at the verge of losing your property or assets. You will need to specify which chapter you are filing for, regardless of your emergency bankruptcy.
There are different things to consider depending on the chapter under which you are filing. For instance, if you are filing for Chapter 7 or liquidation bankruptcy, you will need to meet the requirements set forth by The Bankruptcy Code regarding this chapter. This means you will need to go through the “means test” to see if you qualify for Chapter 7 based on your income. Furthermore, you will need to go through the liquidation process where a court-appointed trustee will sell your non-exempted property in order to pay your creditors.
In Chapter 1, while the goal is getting rid of your debt, the process is different from Chapter 7. In it, you will need to create a repayment plan – which can last three to five years – and present it to your creditors for their approval. Once approved by your creditors and the court, you will need to adhere to all the terms agreed upon in your plan.
If you fail to meet the requirements set forth by both bankruptcy chapters, the court will dismiss your case, and you will lose the protection granted by the automatic stay. This means your creditors can and will go against you if you default on your Chapter 7 or 13. Our Sacramento bankruptcy lawyers have many years of experience handling bankruptcy cases. We know what it takes to help you understand the bankruptcy process and avoid any complications down the road.
Emergency Bankruptcy Filing Attorneys Serving Sacramento, CA
If you or a loved one is facing foreclosure in Sacramento, an emergency bankruptcy can be the solution to your problem. At The Bankruptcy Group, our bankruptcy attorneys can help you protect your home against creditors through an emergency bankruptcy. We understand how difficult, stressful, and emotionally draining the foreclosure process can be. That is why we dedicate ourselves to offering high-quality legal counseling to our clients. To learn more about your case in a free, confidential consultation, call our law offices today at 1-800-920-5351.