What is an Emergency Bankruptcy Filing?
For most people considering a personal bankruptcy filing, it is important to discuss your financial situation ahead of time with a bankruptcy attorney and to make plans well ahead of filing your bankruptcy petition. In some cases, however, a debtor might need to file a bankruptcy petition extremely quickly in order to have the automatic stay stop an impending action by a creditor. This is sometimes known as an emergency bankruptcy filing. Given that filing for bankruptcy is an extremely complicated process, it is important to avoid any kind of quick filing without assistance from an attorney. Our West Palm Beach bankruptcy lawyers can tell you more about emergency bankruptcy filings and can assist you if you need to take fast advantage of the automatic stay.
Understanding the Emergency Bankruptcy Filing
The bankruptcy process in Florida is complex and requires a range of documentation in order to be eligible for the benefits of bankruptcy. However, if you are facing immediate and impending action from a creditor — such as a foreclosure, or a lawsuit or lien, or a garnishment — you may want to take quicker action than is typically done when an individual files for bankruptcy. As soon as you file a bankruptcy petition, an injunction known as the automatic stay halts action from creditors. As such, by filing for bankruptcy, you can stop a foreclosure, a lawsuit, a garnishment, and more.
This type of “emergency” filing is also sometimes called a “skeleton” filing because it involves submitting fewer documents up front and completing the filing of remaining documents later on.
What Gets Filed in an Emergency Bankruptcy Filing?
If you need to file an emergency or skeleton bankruptcy case, you will still need to do the following:
- Complete the required credit counseling course;
- Submit a voluntary bankruptcy petition (Form B101), detailed information about your creditors, Form B121, and the certificate of completion for credit counseling; and
- Pay the filing fee or submit a fee waiver or installment request.
Remaining required documents — of which there are many — typically must be filed within 14 days. You should begin working with a bankruptcy attorney as quickly as possible to ensure that your bankruptcy case moves forward. If remaining required forms are not submitted in a timely manner, the bankruptcy court can dismiss your case. Once a case is dismissed, the automatic stay will no longer apply and thus will not continue to halt any creditors’ actions against you to collect debt.
Contact Our West Palm Beach Bankruptcy Attorneys Today
Do you have questions about filing for Chapter 7 or Chapter 13 bankruptcy in Florida? Even if you need to file quickly in order to address a time-sensitive action being taken by a creditor or a debt collector, it is critical to have legal advice. The bankruptcy process is complicated, and any errors can cause delays or a dismissal in your case. Do not hesitate to get in touch with an experienced West Palm Beach bankruptcy lawyer at Kelley, Fulton, Kaplan & Eller for help. Contact us today for assistance with your South Florida bankruptcy needs.
Source:
law.cornell.edu/uscode/text/11
