How to File Chapter 7 and Chapter 13 Emergency Bankruptcy?
When filing a bankruptcy petition, there are a couple of forms or documents that you need to file. These files must be submitted to the bankruptcy court in the district where you belong. Gathering information and filling out all of the necessary forms may take a lot of time. In some occasions such as home foreclosure and wage garnishments may be filed under emergency bankruptcy. Emergency ones may include emergency bankruptcy filing chapter 13 and chapter 7.
Do you need emergency bankruptcy?
First and foremost an individual should know why he or she must file an emergency bankruptcy. When filing, the automatic stay is switched on. It disallows many creditors from continuing or initiating collection activity from the debtor. For instance, if a debtor is behind mortgage payments or car payments and he files for a bankruptcy case, the lender would not be allowed to repossess the debtor’s vehicle and his mortgage firm cannot foreclose for some time. There are limits and immunities when automatic stay kicks in.
What should you know?
The good thing about emergency bankruptcy is it only requires to file minimum forms and the automatic stay is switched on right away.
Filing the rest of the bankruptcy forms is similar to filing emergency chapter 7 bankruptcy. The rest of filing Chapter 13 Moreno valley bankruptcy forms must be filed within 14 days including its repayment plan.
The debtor should make his first payment plan to the chapter 13 trustee within a month of his initial filing under emergency bankruptcy, though he was granted for extensions to file other forms. Now, if the first payment was not received in the date agreed, the chapter 13 trustee has the power to ask the bankruptcy court to discharge the bankruptcy case.
For more details, you can reach us via website or visit us for legal consultation and other bankruptcy concerns. Check Moreno law firm for more emergency bankruptcy information.