If you are struggling with large amounts of debt, you may be facing foreclosure or repossession of your vehicle. You may even fear that these things are imminent. If this is the case, you may be able to file an emergency bankruptcy in Florida. It is not recommended that you wait until the last possible minute to file for bankruptcy. However, when it is necessary, typically arrangements can be made to file a petition before you lose any of your property. Below, our Florida emergency bankruptcy lawyer explains more.
What is a Skeleton Bankruptcy Filing?
An emergency bankruptcy filing is a case that is filed with the bare minimum of required bankruptcy forms. In Florida, these are also sometimes called skeleton bankruptcy filings. When submitting a petition for a skeleton bankruptcy filing, you only submit the bare minimum information the Bankruptcy Code requires. Once you have submitted your petition, the automatic stay will be invoked.
After filing an emergency bankruptcy, the court will issue an automatic stay. The automatic stay prohibits creditors and lenders from continuing collection efforts against you. When filing an emergency bankruptcy, the automatic stay can go into effect before you have even submitted all of the required paperwork. The automatic stay can help you keep your home or vehicle for the time being, or permanently.
When filing an emergency bankruptcy, indeed, you do not have to submit all of the required forms right away. Still, you must submit all of the paperwork required in other bankruptcy cases. Under the law, you have 14 days after filing emergency bankruptcy to submit this paperwork. If you fail to, the court will dismiss your case and creditors can resume their collection efforts.
Steps in an Emergency Bankruptcy Filing
If you want to take advantage of the benefits emergency bankruptcy has to offer, there are many steps you must first take. These include:
- Complete the bankruptcy petition.
- Create a list of your creditors and their contact information. The list should also include any other party trying to collect money from you, including law enforcement agencies, lawyers, and debt collection companies.
- Complete your social security number form, which is Form 121.
- Submit any other documents the court requires.
- File the emergency bankruptcy with the court. This requires you to submit all necessary forms and any copies of the forms the court asks for. You must pay the filing fee at this time, or request a waiver. If you are filing Chapter 7 bankruptcy and can only afford to pay a portion of the fee, you can ask the court to pay in installments. You should also include a return envelope showing your address.
- After filing the initial paperwork, you must complete the remaining paperwork within 14 days.
Emergency Chapter 13 Filing: What to Consider
When filing for emergency Chapter 13 bankruptcy, you are not asking the court to discharge your debt. Instead, you are asking the court to reorganize your debt into a repayment plan. This allows you to repay the debt over three to five years, which can make your payments more affordable. Because the automatic stay remains in place during your entire bankruptcy case, creditors are also prohibited from taking collection against you during this time. After you have made all payments according to the plan, some of your debts may be discharged, or eliminated.
It is important to note that any debt discharged during Chapter 13 bankruptcy is not erased or forgiven. It simply means that you are no longer responsible for paying it. The debt can still appear on your credit report and affect your score. Chapter 13 emergency filing is a good option for those who do not pass the means test that is required in Chapter 7 emergency bankruptcy.
Emergency Chapter 7 Filing: What to Consider
In a Chapter 7 emergency filing, you can discharge your unsecured debt. The bankruptcy trustee will review the property you own and sell any valuable assets to help repay a portion of your debt. Fortunately, many people file emergency Chapter 7 and do not lose any property at all.
Because there is no repayment plan involved, Chapter 7 is also a quicker form of bankruptcy than Chapter 13. The biggest obstacle people face in emergency Chapter 7 filings is the means test. This is a test that was added to the Bankruptcy Code in 2005 to stop bankruptcy fraud. To pass the means test, you must show that you do not have sufficient income to repay your debts.
Can You File for Emergency Bankruptcy Online?
Yes. You can file emergency bankruptcy online with the appropriate court. For example, in Fort Lauderdale, you will file in the United States Bankruptcy Court in the Southern District of Florida.
Should You Hire an Emergency Bankruptcy Attorney for Help?
You are not required to work with an attorney when filing emergency bankruptcy. However, an attorney can help you in many ways, including:
- Help you determine if bankruptcy is right for you,
- Explain the different types of bankruptcy and help you determine which one is right for you,
- Advise on the documents you need and the forms you must complete,
- Help you protect your assets,
- Answer all of your questions,
- Guide you through the process from beginning to end, and
- Ensure no mistakes are made that could hurt or delay your case.
While emergency bankruptcy can help you obtain the protection you need faster, the process is complex. With such a sense of urgency, it is also usually more stressful for filers. A lawyer will reduce your stress and provide sound legal advice.
Contact Our Florida Emergency Bankruptcy Attorneys for a Free Consultation
If you need to file emergency bankruptcy, do not hesitate to call our office today. At Loan Lawyers, our emergency bankruptcy attorneys in Florida can help you navigate the process to ensure you obtain the best possible outcome. Call us now at (954) 523-4357 or fill out our online form to schedule a free review of your case and to get more information.
