When your vehicle is about to be repossessed, your paycheck has a pending garnishment, your Scottsdale home is about to be foreclosed on, and you're feeling crushed under overwhelming personal debt, filing for bankruptcy may be your only option. As a matter of fact, you might need an emergency bankruptcy filing immediately.
With the help of experienced bankruptcy attorneys, you can file for an automatic stay that goes into effect once the bankruptcy petition is filed. An automatic stay will immediately stop all the previously mentioned issues, plus any other creditor collection methods.
Pearson Law is a law firm that can help you achieve debt relief. They're the Arizona lawyers that help debtors get a fresh start. They offer a free consultation to help you decide the best filing option and help you with the required forms, which for an emergency bankruptcy filing is basically skeleton filing, until a later date when all paperwork must be filled out.
Pearson Law is experienced in Arizona and federal bankruptcy laws, so call them today at (480) 820-1800 for all your debt relief needs.
What Is An Emergency Bankruptcy Filing
If the mountain of bankruptcy forms you have to fill out keeps you from filing, don't worry. The difference between filing for bankruptcy and an emergency bankruptcy filing is the amount of paperwork. When you file for emergency bankruptcy, there's only the minimum number of forms needed to get it started and get an automatic stay put in place.
Whether you file a standard bankruptcy claim or an emergency one, the automatic stay will stop creditors from contacting you or taking you to court. The automatic stay will take effect before you've completed all the required bankruptcy forms, giving you a bit more time.
Keep in mind that when you file an emergency case before all the other bankruptcy forms are completed, that doesn't mean you don't have to eventually file all paperwork required for the state of Arizona.
What Do I Need For An Emergency Bankruptcy Filing?
Most individuals file a Chapter 7 or a Chapter 13 bankruptcy. A Chapter 7 bankruptcy is a liquidation bankruptcy that will eliminate most unsecured debts, such as credit cards and medical debt.
If you make too much money and your annual income exceeds the median income, and you don't pass the "means test," you may need to file a Chapter 13 bankruptcy. Under a chapter 13 bankruptcy, you will have to make monthly payments before your debts are discharged. You'll also be able to keep some property that would otherwise be liquidated in a Chapter 7 bankruptcy.
A Chapter 7 bankruptcy will get rid of most of your debt, including:
- Medical Bills
- Credit Card Debt
- Personal Loans
- Older Taxes
Unsecured debt that isn't typically discharged through a Chapter 7:
- Student Loans
- Child Support
- Court Fees and Penalties
- Some Tax Debt
Filing a Chapter 7 bankruptcy isn't an easy decision, but if you're facing insurmountable debt, the best course of action might just be to find an emergency bankruptcy lawyer in Scottsdale that can advise you on your specific debt situation.
What If I Have Filed For Bankruptcy Before?
If you've had a previous bankruptcy filing, you need to see if you qualify for another filing. According to the Bankruptcy Code, there are waiting times between prior bankruptcy discharges and current filings for a new discharge.
Can I File For Emergency Bankruptcy On My Own?
Filing bankruptcy isn't a simple process. The legal system is complicated with numerous rules, laws, and regulations, and your creditors have aggressive legal counsel to fight to make sure you fail in your bankruptcy case.
It might make things more difficult, or you may lose your bankruptcy case if you try to negotiate the complex process of filing for a Chapter 7 bankruptcy without the help of a professional attorney.
What Is My First Step To Filing Bankruptcy?
If you're filing for bankruptcy, you'll be required to take a credit counseling course. After you've completed the course, you'll receive a certificate, which will have to be filed with the court when you file your emergency bankruptcy forms.
The next step is to complete the required forms for an emergency bankruptcy filing, including:
- A Voluntary Petition - A form to get the required demographic information about the filer. This petition is approximately 8-pages long.
- Statement of Social Security Number – You won't need to put your social security number in another paperwork, just in this statement. No one but the court will be able to see it.
- Certificate of Credit Counseling – This is given to you when you complete your credit counseling course.
- After that, get your filing fee ready, which is due when you file your bankruptcy case. If you're having difficulties paying the filing fee, you can ask the court to allow you to pay the fee in installments. A required minimum first installment is required in some courts, but your AZ lawyers should be able to help you find that out.
- You can even ask the court to waive the filing fee if your annual income is less than 150% of the federal poverty guidelines. Make sure you file a motion for this when filing your emergency paperwork.
Now, it's time to file your case. The best way to file your paperwork in person or have your bankruptcy experienced attorneys file your case online is to ensure there's no delay. Only bankruptcy attorneys are allowed to do so.
Don't forget that you have 14 days after filing an emergency bankruptcy to file the rest of the paperwork.
For bankruptcy assistance, call Pearson Law today at (480) 820-1800.