Emergency Bankruptcy Lawyer
Louisville Emergency Bankruptcy Attorney
Emergency bankruptcy is a form of bankruptcy filing that is fast-paced and provides protection of an automatic stay for an individual’s financials immediately. This particular term is often referred to as skeleton bankruptcy filing. Those who need immediate relief from creditors can make emergency filings to stop a debt collection by filing for emergency bankruptcy. We recommend doing this with the help of an emergency bankruptcy lawyer.
The Louisville emergency bankruptcy lawyers at O’Bryan Law Offices understand filing for bankruptcy in an emergency situation can be difficult. Some swift legal talk could benefit you when you need creditors to get off your back regarding debt collection. Knowing or sharing the estimated value of the medical bills, car payments, car loans, credit card debt, or any other circumstance that led to your bankruptcy case can be difficult. Our law firm will help provide a free bankruptcy evaluation with an experienced O’Bryan bankruptcy attorney. Call our office at 502-339-0222 to schedule your free consultation.
What is an Emergency Bankruptcy Filing?
Filing for emergency bankruptcy is the act of starting the filing process by completing the minimum required forms that allow just enough to get a bankruptcy case in motion. Once the filing process has begun, the remaining paperwork for the emergency bankruptcy filing needs to be completed within 14 days to prevent the original primary document from causing a dismissal of your case. When needing immediate help, bankruptcy is often a resolution people will turn to for a quick fix to prevent further repercussions of collections. Filing for bankruptcy can prevent critical situations like wage garnishment, foreclosure, or repossession.
An experienced bankruptcy attorney at O’Bryan can review emergency bankruptcy forms with sensitive or confidential information during a free consultation. Our conversation can potentially prepare you for a bankruptcy filing. We’ll provide proper guidance on what your specific bankruptcy code requires, what to expect from the bankruptcy court, and even how to address the court clerk. An attorney-client relationship is essential to our law firm; we understand the need to file an emergency petition and are happy to help.
Why File an Emergency Bankruptcy?
When an individual begins to file for an emergency petition for bankruptcy, this can prevent an impending collection or ultimately stop any immediate effort of collections against them. This situation is referred to as an automatic stay, which allows a brief period for an individual to make proper arrangements before further action for collection methods are taken to extreme measures. Invoking an automatic stay of protection is one of the most common reasons for filing an emergency bankruptcy.
So, a skeleton bankruptcy may seem like a better option for someone dealing with situations involving foreclosure, wage garnishment, repossessions, or other serious reasons an individual may need to file an emergency petition, at first.
But, unfortunately, skeleton filing is only a temporary solution to a bigger problem. After filing for emergency bankruptcy, following up on the remaining bankruptcy forms is imperative to prevent possible dismissal. The remaining forms must be completed by the filing date; this is crucial!
While you can certainly complete most of the forms via online filing, along with the option for payment of the fee waiver application, if you need an emergency bankruptcy filing, you really should consider consulting with an experienced bankruptcy attorney. Filing the paperwork properly is critical to ensure everything goes as planned.
What Do You Need to File Emergency Bankruptcy in Kentucky?
What you will need to file for an emergency bankruptcy in Kentucky is to complete the following documents:
- A credit counseling certificate
- Creditor matrix
- Voluntary petition
- Statement of social security number
- Filing fee
Choose the Right Kind of Bankruptcy
When it comes to filing for bankruptcy, choosing the right kind of bankruptcy is something our attorneys evaluate for you. Our experienced Kentucky bankruptcy lawyers will guide you through the proper steps to determine which chapter of bankruptcy filing is appropriate for your situation.
Chapter 7 Emergency Bankruptcy Filing
Debtors will predominantly apply for Chapter 7 emergency bankruptcy filing to provide debt relief for costs related to medical bills and credit card debt. However, when using Chapter 7, in order to keep your car or home, you must be up-to-date on the payments.
Chapter 7 emergency bankruptcy filing is also beneficial for those who make decent money and can live frugally, when the need arises. This fast-paced chapter generally can take 3-4 months with income limitations. An individual can clear credit card debt, medical bills, and more in just a short period with this chapter.
Chapter 13 Emergency Bankruptcy Filing
If you are an individual with exceptional monthly income and high debt is no issue, Chapter 13 emergency bankruptcy filing may be for you. With this chapter, an individual will pay creditors over a 5-year period at the individual’s affordability. Chapter 13 bankruptcy filers are able to keep their belongings and properties, unlike those who file under Chapter 7. It is also important to note that this route can be pricey, and filers must make enough money to repay owed debt in order to go in this direction for your bankruptcy process. If filing Chapter 13 bankruptcy, you are likely in a situation facing repossession, foreclosure, or have lost property from filing Chapter 7 bankruptcy.
Make Sure You Qualify
When verifying to make sure you qualify for the bankruptcy you intend on filing for, whether that be Chapter 7 or Chapter 13, a few steps should be taken before doing so.
For starters, not all individuals qualify for debt relief, especially for Chapter 7 filing. Planning to pass a means test for qualification purposes is a starting point. You’ll want to avoid any unforeseeable eligibility issues by taking a means calculations test, although this test is not required for the initial emergency filing submission.
Also, in making sure your eligibility has no complications, a waiting period may apply if an individual has ever filed for bankruptcy.
According to Kentucky bankruptcy law, a previous discharge for bankruptcy could prevent a new release from starting due to waiting times.
The wait times can often vary depending on the surrounding factors such as:
- which chapter you file,
- if this is the initial emergency bankruptcy filing or have previous bankruptcies been filed,
- have all the bankruptcy forms being completed, and
- whether or not you’ve completed the credit counseling course.
Take a Credit Counseling Course
When filing for bankruptcy, one requirement on the list is taking a credit counseling course from an approved provider. The credit course can often be completed online or via phone.
While fees will vary depending on the provider holding the study, the fees usually range between $10.00-45.00. This one-time course takes about two hours. You will receive a credit course certificate upon completion. You will then take this completed certificate and file with the remainder of the required documents for your bankruptcy claim.
Complete the Required Forms
In a bankruptcy petition, ensuring an automatic stay is immediately put into place is the highest priority among those filing for an emergency bankruptcy form. Suppose you need an automatic stay and need to know what constitutes acceptance. In that case, you should make a cover sheet of completing a voluntary petition, statement of social security number, creditor matrix, and provide funds toward the filing fee.
In a free consultation, the Kentucky bankruptcy lawyers at O’Bryan can guide you in the right direction if you wish to file an emergency bankruptcy. We’ll go over the steps you’ll need to take in order to complete the required forms for an emergency bankruptcy filing.
Voluntary Petition
This particular petition includes a total of 8 pages of forms with information stating your address, the type of bankruptcy being filed, and any previous bankruptcies you have filed.
Statement of Social Security Number
Many notifying creditors understand the lack of trust in wanting to share your social security number. This page is the only place within the paperwork needing your entire social. This information is also protected in the confidential relationship along with the other remaining form questions, like total monthly income, credit counseling results, and any other sensitive or confidential information that needs necessarily secure protection.
Creditor Matrix
This alphabetized list of creditors with mailing addresses commonly presents an easy way to keep organized. In bankruptcy court, it is often required to submit an orderly matrix of an individual’s creditors. However, a zip code search is recommended to know your state’s requirements.
Skeleton Filing Fee
In bankruptcy court, a skeleton filing fee will have various charges for every person’s unique case. The expenses related to Chapter 7 cases include $338.00 and $313.00 in costs associated with Chapter 13, which are due when you first file the claim. Those unable to pay the entire balance may file a motion to request a payment plan. Most attorneys will recommend paying a lump sum towards initiation fees to install your payment method.
Notify Creditors of Emergency Bankruptcy
When it comes to a serious matter like stopping wage garnishment, foreclosure, lawsuit proceeding, repossession, or some other important legal actions, do not wait for a court to notify creditors of emergency bankruptcy claims you have initiated.
Issues this sensitive require your help in taking immediate action. Your emergency bankruptcy lawyer will send a notice to your creditor, making them aware you have an ongoing bankruptcy petition in place and that you are now notifying your creditors.
Notifying creditors of your action in filing an emergency bankruptcy petition can sometimes be completed through pre-recorded messages as an extra precautionary measure. When the primary document is provided to the collectors, the information should have your account number, date of filed petition, and the court in which the emergency petition was filed.
File Remaining Bankruptcy Forms
Once your initial emergency bankruptcy petition has been filed to get the ball rolling, an individual only has 14 days following the date originally filed to complete and file any bankruptcy forms that remain incomplete. After submitting the initial required documents, within days, a person will receive notice of any deficiencies, including a checklist of the remaining forms and guidelines needed for the person to accomplish the completion before the deadline.
Failure to complete the remaining bankruptcy documents could result in the dismissal of your case. In this scenario, an individual could face the extreme measures of a creditors collection process. For some, this could be a vehicle repossession, foreclosure on the home, or worse. If you need a free evaluation for the problems you are facing with debt collection, call to speak with the O’Bryan attorneys.
What are the Downsides to Filing Emergency Bankruptcy?
The downsides to filing an emergency bankruptcy can vary for each person and their unique situation. No person has the desire or urge to file for bankruptcy. However, when emergency filing provides a better solution for your family’s current needs, our attorneys are here to help. The attorney-client relationship ensures that all information remains confidential. Our Bankruptcy firm will potentially provide you with multiple beneficial solutions for your current financial problems, especially when it can seem like there is no light at the end of the tunnel.
The downsides to filing emergency bankruptcy include:
- limitations set on emergency bankruptcy filings
- lack of time that’s needed for preparation involved in the chapter claim your filing, and
- up-front costs to file.
A Chapter 7 filing requires you to immediately bring the payments up to the current status to regain property status when filing for an emergency bankruptcy.
Kentucky Emergency Bankruptcy Attorneys
If you are looking to turn over a new leaf and need help before creditors take your home or your car, call to speak with the Kentucky emergency bankruptcy attorneys of O’Bryan Law Offices. Emergency filings can be tricky and often require a swift movement of legal action. Regardless of your reasons for an emergency filing, our lawyers are here to help you.
An experienced bankruptcy attorney can help guide you toward the best path for your unique situation. With the help of an emergency bankruptcy lawyer, the stress that comes with bankruptcy can be minimized, our attorneys can simplify complicated steps with filing, help through credit counseling, and so much more.
