WHAT IS AN EMERGENCY BANKRUPTCY FILING?
Posted on 10 30,2014
When it comes to filing for bankruptcy, people often like to weigh their options, alternatives, and the pros and cons of their choice. However, in some cases, there is no time to go through this process. If you find yourself facing a serious situation, you may need to file emergency bankruptcy to get an automatic stay put in place right away. If you do not have time to waste on filing the majority of bankruptcy forms and need a stay put in place as soon as possible, you may be able to pursue an emergency bankruptcy.
Without the counsel of an attorney, you could greatly hurt your case, especially when deciding if filing for emergency bankruptcy is the right option. That is why you should work with a legal professional throughout your case, regardless of what type of bankruptcy you file for.
REQUIREMENTS FOR AN EMERGENCY BANKRUPTCY
Once you file an emergency bankruptcy, you will need to follow up within 14 days with any remaining paperwork or documents. If you fail to do this, your bankruptcy case will likely be dismissed. You may have the option to file again, but will need to ask the court to keep your automatic stay in place (to prevent creditors from taking any action against your assets or your home) after 30 days have passed.
You should follow these specific steps for emergency filing:
- Find out what specific documents are needed from your court
- Fill in Form 1-Voluntary Petition, including Exhibit D
- List all your creditors, collection agencies, attorneys, etc. who are seeking debts from you on required documents
- File the original documents and copies, along with the fee, and a self-addressed envelope with the bankruptcy court
- Make sure you keep copies of every document for your records
- Follow up and file any remaining forms within 14 days
Have more questions about emergency bankruptcy? Talk with our Virginia bankruptcy attorney today to find out if this is the best option for your case.