In filing for either a Chapter 7 or Chapter 13 Bankruptcy, several forms have to be filed with the Bankruptcy Court. For example, proof of past 6 months of income earned and the Means Test. A list of all assets owned such as residence, vehicles, jewelry, bank accounts etc. also has to be filed with the court listing the value of each item. The complete filing of either chapter is generally 45 to 60 pages long. Generally it is a time consuming process. However there are situations where time is of the essence and you are unable to gather all of the required documentation. In such instances you can file an emergency bankruptcy in California which only requires that you fill out a few forms. Filing an emergency bankruptcy correctly provides you protection that is specifically provided for under bankruptcy relief.
The majority of times when people go for Same-Day Emergency Bankruptcy Filings it is usually to initiate the automatic stay and prevent creditor collection action from taking place. The 2 most common creditor actions that people want to stop by filing a same day emergency bankruptcy are foreclosure and wage garnishment actions. For example if someone owns a home and hasn’t paid their mortgage for 3 years, instead they’ve been trying to get modifications or work out alternative solutions but nothing panned out. All of a sudden they are faced with a foreclosure. In order to avoid such a situation, they contact an experienced California Personal Bankruptcy Attorney who efficiently evaluates their situation and files an appropriate emergency bankruptcy petition thus helping them avoid foreclosure of their home.
Another example would be where someone was delinquent on their credit card payments and the creditor sues them and wins a judgment. They are now faced with an Earnings Withholding Order i.e. Wage Garnishment order. An emergency bankruptcy can remedy this situation as well as the automatic stay entailed in the bankruptcy would prevent your wages from being garnished. The cost associated with filing an emergency bankruptcy petition primarily consists of the Court Filing Fee. It is currently $335.00 for a Chapter 7 and $310.00 for a Chapter 13. The 3 documents primarily required in the filing of an emergency bankruptcy are the Voluntary Petition, the Statement of Social Security Number, and the Verification and Master Address List.
It is a document that contains your personal information and a summary of certain information in your Bankruptcy case.
Statement of Social Security Number
It is a document that lists out your complete social security number.
Verification and Master Address List
This document is a complete list of all of your creditors along with their mailing address.
When a same day emergency bankruptcy petition is correctly filed, the Court will immediately draft and file a document titled Notice of Incomplete Filing Or Notice Of Intent To Dismiss Case If Documents Are Not Timely Filed. This notice enlists the documents that you need to file with 14 days of your same day emergency bankruptcy filing. If these documents are not filed or an extension is not granted then your petition will be dismissed by the Clerk of the Court. If you need to file an emergency bankruptcy, it is advisable to retain the services of a California Personal Bankruptcy Attorney who can guide you through this process in an efficient manner.