Attorney for Emergency Bankruptcy Filings in Philadelphia
Filing for bankruptcy is not a decision a person should take lightly. While it is a powerful tool to achieve financial stability, it is not appropriate in every situation. Nonetheless, there are times when filing for bankruptcy is the best option. Moreover, there are situations when it is necessary to file your case immediately. If a creditor is threatening or taking imminent actions against you, filing for bankruptcy is often the only way to stop them.
When a sheriff sale is just days away or your car was just repossessed, you need to call an experienced attorney for emergency bankruptcy filings in Philadelphia. The skilled lawyers and staff at Young, Marr & Associates will work with you to ensure all the necessary forms are completed and filed to stop any pending collection lawsuits or collection activity against you. If you need to file for bankruptcy now, contact our office at (215) 701-6519.
Emergency Bankruptcy Petitions in Philadelphia
A typical bankruptcy filing in Philadelphia, whether it is Chapter 7 or Chapter 13, consists of fifty or more pages of documents. In addition to the official bankruptcy forms and schedules, our Philadelphia bankruptcy attorney must provide supporting documents and statements. To complete a bankruptcy takes time. However, if there is a looming sheriff sale or collection judgment, there might not be enough time to realistically gather all the necessary information and accurately complete the filing.
Fortunately, there is an option if a case must be filed quickly. You are not required to file a complete set of forms when you file for bankruptcy. Our office could prepare and file what is commonly called an emergency petition. An emergency petition has the same legal effect as a complete bankruptcy filing, with only a percentage of the forms included.
The Required Forms for an Emergency Philadelphia Bankruptcy Petition
When preparing an emergency bankruptcy petition, our office will approach the filing similarly to an ordinary bankruptcy. The same initial questions will be asked regarding your debt, assets, income, and other relevant financial information. However, because of the time constrictions, it might not be possible to gather all the supporting documentation.
An emergency bankruptcy filing only consists of a handful of forms.
First is the voluntary petition. This is the primary form that includes general information about your pending case, including the chapter of bankruptcy, your identifying information, your representing attorney, and other general information.
Following the petition is a certificate indicating that you completed the required credit counseling course. As many of these courses are available online or over the phone, the court will typically not grant a waiver because of a time constraint. In most emergency cases, it is advised to complete this course the evening before your appointment with our office.
A thorough list of your creditors and their addresses must be filed. This document, known as the “creditors matrix,” is used by the court to send an official bankruptcy notice to your creditors.
The final document required in an emergency bankruptcy filing is Form B-121, or your statement of Social Security number.
Once all the documents are filed, your bankruptcy is official and all the following legal protections are in effect. The remaining forms, schedules, and documents must be filed within 14 days or your case could be dismissed without notice.
Other Considerations When Filing an Emergency Bankruptcy Petition in Philadelphia
Filing for bankruptcy in Philadelphia will create a legal barrier between you and your creditors, stopping foreclosures, sheriff sales, repossessions, utility shut-offs, judgments, and other collection activity. However, filing for bankruptcy is only the first step.
When our office is preparing your bankruptcy filing, we are doing much more than completing forms and submitting documents. Our knowledgeable attorneys will review the bankruptcy process with you in specific detail so you understand your obligations under the law. Additionally, our office will thoroughly review your assets, income, and other financial information to determine if you qualify for bankruptcy – this includes verifying that you are eligible for Chapter 7 or have the economic means to complete a Chapter 13.
When drafting and filing an emergency bankruptcy petition, it might not be feasible to review all the necessary documents. For example, if a debtor needs to file on the morning of a sheriff’s sale, they probably do not have evidence of their income for the last six months and other documents and statements necessary to finalize a bankruptcy filing.
In these situations, it is essential to bring what documents you have on hand to your appointment, including a recent pay stub, bank statements, tax returns, and a recent credit report. It is also critical to answer every question truthfully and as accurately as possible.
As stated above, filing for bankruptcy is only the first step. The next thing our office will do is notify any creditors that had pending legal actions. For instance, our office will send notice of your filing to the sheriff’s department, your mortgage company, and its legal representation if you are filing to stop a foreclosure or sheriff sale.
Once the emergency petition is filed, our office will start working on completing and filing the remaining forms, schedules, and documents. These documents must be filed within 14 days of the petition filing or your case could be dismissed. Any supporting documents and statements must be supplied to our office well before the two-week deadline.
Contact Our Experienced Philadelphia Bankruptcy Attorney if You Need to File Immediately
Preparing a bankruptcy filing takes time. It is critical to have all the necessary documentation thoroughly reviewed before filing. However, there are situations when a bankruptcy needs to be filed immediately. If that is the case, you need a skilled attorney for emergency bankruptcy filings in Philadelphia to handle your case. You will want to ensure that the correct forms are filed, that your creditors are notified, and that you are eligible to file for bankruptcy. At Young, Marr & Associates, our experienced staff and attorneys provide the help and guidance a person facing imminent legal actions requires. Call (215) 701-6519 if you need to file for bankruptcy immediately.