An emergency bankruptcy filing can stop foreclosure, repossession, wage garnishment, or a lawsuit. It's a bare-bones bankruptcy or "skeleton bankruptcy filing," which can help you file quickly and stop the problem in its tracks. This article explains the streamlined bankruptcy filing process that lessens the time needed to prepare a bankruptcy petition.
The shortened process known as an emergency or skeleton filing allows you to start a bankruptcy case by submitting an incomplete, bare-bones bankruptcy filing. Once prepared, your attorney can file it online in minutes.
A specific emergency isn't required for a skeleton filing. Anyone who needs to file quickly to prevent an unwanted event from happening can use the process. Common reasons people use the emergency procedure include:
After filing, the automatic stay stops these types of issues immediately. However, keep in mind that the relief might be temporary and that not all bankruptcy chapters will solve every problem. Understanding the differences between Chapter 7 and Chapter 13 bankruptcy will help you determine which chapter will best meet your needs.
The average bankruptcy petition is over 50 pages in length. However, when you use a skeleton filing, you aren't required to include all bankruptcy schedules. Here's what you should be prepared to file and pay:
A business will use non-individual forms. You can find the official bankruptcy forms on the U.S. Courts website.
The skeleton process buys you time—but that's it. You must submit the remaining forms within 14 days. The court will likely notify you about the deadline in writing.
A completed packet will contain information about every aspect of the debtor's financial situation, including the following:
It's important to remember that if you don't meet the filing deadline, the court will dismiss the case and possibly issue sanctions if it suspects an abuse of the bankruptcy process. You can learn more about the process by reading Emergency Bankruptcy Filing.
Did you know Nolo has made the law accessible for over fifty years? It's true, and we want to ensure you find what you need. Below, you'll find more articles explaining how bankruptcy works. And don't forget that our bankruptcy homepage is the best place to start if you have other questions!
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We wholeheartedly encourage research and learning, but online articles can't address all bankruptcy issues or the facts of your case. The best way to protect your assets in bankruptcy is by hiring a local bankruptcy lawyer.