Filing for bankruptcy can be a highly beneficial remedy for severe consumer or business debt. While the majority of benefits gained from bankruptcy are long-term, filers will see an immediate benefit gained from the protection of the automatic stay. When you file your bankruptcy petition, a stay preventing your creditors from collecting payments from you will automatically be put into place. In some situations, filers may need to speed up the process leading up to the automatic stay by filing for an emergency bankruptcy. If you’re considering filing for bankruptcy, Behm Law Group, Ltd. provides the counsel you need to build a strong case and the guidance you need to determine if you should file for an emergency bankruptcy in Marshall, MN.
Filing for an emergency bankruptcy gives you automatic stay protection from creditors sooner than a standard bankruptcy. The process is completed online with fewer forms and less paperwork than a typical bankruptcy case would require, but an emergency bankruptcy can only be filed if your situation meets certain circumstances.
When and why?
You can file an emergency bankruptcy if you would not be able to complete the full paperwork before an event that will directly affect your case occurs. For example:
- you have an impending foreclosure
- you are facing repossession
- your wages will be garnished
- you have a collection lawsuit
There may be other events that could allow you to file an emergency bankruptcy, but they must be time-sensitive issues. You will also be required to complete and file the rest of the bankruptcy papers within 14 days after filing an emergency bankruptcy.
How?
To file an emergency bankruptcy, you must complete a set of online forms and meet some other requirements, including:
- filling out the primary bankruptcy petition document that covers your general information, which chapter you are filing for, and your identity information
- a list of your creditors, including their names and addresses
- your certificate of completion for the credit counseling requirement
- payment of the filing fee, or an application to have the fee waived or paid in an installment plan
Behm Law Group, Ltd. attorneys can help you work through the steps of filing for an emergency bankruptcy in Marshall, MN or filing a standard Chapter 13, 7, or 12 case. To learn more about our counsel in filing for bankruptcy or to get started with us today, contact our office at (507) 387-7200.
