Emergency Bankruptcy – Why You Should Consider This Option
If you need to file for bankruptcy fast, you have a great opportunity to do that. That’s because it is possible to file for emergency bankruptcy, and this is when you are required to provide only the minimum of important papers at once. You should not forget that you are obliged to provide the rest of your documents within one month. Otherwise, your petition will be dismissed, and you will have to face additional complications.
When thinking about this type of bankruptcy, one of the basic steps that you need to take is to hire a reliable and qualified lawyer, as this professional will guide you throughout all the procedures and processes involved. It is impossible to achieve the same results when handling this process on your own.
A. Why is it necessary to file for emergency bankruptcy?
The best part about taking this step is that you are able to stop the debt collection activities of your creditors. This can be said for foreclosures, evictions, garnishments, and others. For example, if you have a house or other valuable assets that are at risk, it is always best to file for bankruptcy, as this is how you are able to stop collection activities and protect them.
B. Choosing the most suitable type of bankruptcy.
These days, there are many people who choose Chapter 7, as this is what helps them get rid of almost all debts. You should think about filing for Chapter 13, which is available only to consumers. If you are not aware of how to determine the most suitable type for your need, it makes sense to consult an experienced attorney.
C. The main basics involved in this process.
The first thing that you need to do is to provide a set of specific documents, but they are minimal and include your bankruptcy petition, credit counseling certificate, list of creditors, and some others. After taking this step you will be provided with one month to file the rest of your statements. This means that you have enough time to avoid making a number of common mistakes, so you are able to ensure that everything is done properly. The best part is that you are going to get the right protection immediately. You should be aware that your bankruptcy case can be denied or dismissed if you fail to meet all kinds of legal requirements set by courts. For example, this may happen if you fail to file your papers on time.