When we experience a crisis, it is always comforting to know that there is a way to quickly get help. However, sometimes we choose to ignore signs of a looming crisis and eventually we get caught with a problem that is much worse than anticipated and sometimes forcing us to act quickly.
The signs that bankruptcy is on your horizon should never be ignored and, when they are, those who feel that they have been ‘caught by surprise’ may need to seek immediate relief in the form of an emergency bankruptcy petition is something that an attorney can prepare and then file very quickly with the bankruptcy court.
Motives for filing an emergency bankruptcy typically involve a debtor who is facing the imminent foreclosure of their home, repossession of their car or a wage garnishment. A emergency bankruptcy petition can be filed under any chapter of the bankruptcy code. It may be used to stop a home foreclosure, car repossession or wage garnishment. It may provide immediate relief and protection from their creditors.
An emergency bankruptcy is a bankruptcy…at warp speed so to speak. It simply means that only a few documents need to be completed to file the case and then the remaining paperwork can be filed within 14 days.. As always, an experienced bankruptcy attorney can and should review all facets of a person’s financial situation prior to filing a bankruptcy.
When it comes to the importance of your bankruptcy situation, every day counts. If you are feeling tremendous financial pressure and are at risk of losing your home and more then don’t wait to get help contact us today or call (248) 350-8220.
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Congress recently passed legislation entitled The Bankruptcy Threshold Adjustment and Technical Corrections Act which the President signed into law on June 21, 2022. The changes to the law will help people because it significantly expands who can qualify for Chapter 13 relief. Chapter 13 is a reorganization bankruptcy for individuals which gives people an opportunity […]