When you’re in debt, it’s easy to put off taking action. You may hope that something will change in your life or the debt will somehow go away. While it’s never a good idea to jump into bankruptcy without doing your research, procrastination isn’t the way to go, either. If you ignore your debt and calls from collection agencies long enough, you could end up being sued for the balance owed, which is a headache no one needs. All of these negative activities, such as late or missed payments, referrals to credit agencies, and lawsuits, will show on your credit report and lower your credit score. If you get to the point where you have to file bankruptcy quickly, you do have the option of an emergency bankruptcy filing, and I can help.
A Few Quick Steps
As soon as you file bankruptcy, the automatic stay begins, which means you no longer need to make payments on many types of debts. This is one of the most important, and immediate, benefits of filing bankruptcy. If you need this relief right away, you may be able to file on an emergency basis by submitting the voluntary petition, including Exhibit D, which states that you’re filing bankruptcy; the Mailing Matrix, which includes names and contact information for all of your creditors; and Form 21, which verifies your social security number. You’ll also need to pay the filing fee at this time. These documents make up the emergency bankruptcy. You will then have 14 days to complete the rest of your bankruptcy paperwork. In some states, you’ll also need to file a form called the Order Dismissing Chapter 7 Case when you file your emergency paperwork. This allows the court to dismiss your case if you fail to complete all of the additional paperwork within 14 days. I’ll give you all of the required forms and documents that will make up your filing packet.
Finalizing Your Case
After we submit your emergency paperwork, we’ll have some work ahead of us. You’ll need to gather all of the required supporting documents, complete the required forms, and go online for your pre-filing credit counseling course. Time is of the essence, because you only have 14 days to get all this finished. If, for some reason, you fail to file the remainder of your forms during this time frame, the court will dismiss your case, but you may file again if you need to. We’ll be in communication with the court to ensure your Automatic Stay is current and you aren’t required to make payments.
The Info You Need
While an emergency filing of bankruptcy is an option, it’s best to plan ahead and make strategic decisions to give you the best financial outcome and long-term success. I can guide you through this process and help you take advantage of the many available exemptions to protect your property and assets. Whether you need to file right now or are just exploring your options, I’m here to help you make the right financial choices.