How fast can I file bankruptcy?

A bankruptcy can be filed in just a few minutes.  With that said, filing an emergency bankruptcy is risky and should only be used if necessary.  To file an emergency bankruptcy you have to pay the filing fees (unless deferred or waived by the court) and take a one hour credit counseling class (unless deferred or waived by the court).  In addition to filing fees, attorneys’ fees are normally paid in advance in Chapter 7 cases, while Chapter 13 attorneys’ fees may be collected in part or in whole through the Chapter 13 repayment plan.  Most attorneys charge additional fees for an emergency filing.

How do I file an emergency bankruptcy?

An emergency Chapter 7 and Chapter 13 bankruptcy is initiated by the filing of a three page document called the Voluntary Petition.  The creditor address matrix and credit counseling certificate must be filed with the court within seven days, with the remaining schedules and statements are due within 14 days of filing.

Why would someone file emergency bankruptcy?

Filing an emergency bankruptcy prevents creditors from being able to collect upon the debt.  Therefore, filing an emergency bankruptcy may stop a foreclosure or repossession,  a wage garnishment or bank account levy and most other collection efforts.  However, in some cases the bankruptcy stay may only be temporary.

What are the risks associated with filing an emergency bankruptcy?

With a typical bankruptcy filing you are given as much time as needed to review your bankruptcy documents and resolve any issues prior to filing.  Since an emergency bankruptcy includes filing a majority of the bankruptcy documents after filing, you are not given the opportunity to correct any problems with your case.  In addition, you must comply with the strict court deadlines which do not allow much time to complete the bankruptcy documents.  Failure to comply with the deadlines will result in dismissal of your case.

If you are considering filing emergency bankruptcy you should consult an experienced Tucson bankruptcy lawyer prior to doing so.  Our dedicated bankruptcy lawyers are on call 24 hours a day, 7 days a week for emergency bankruptcy filings.