New Jersey Attorney for Emergency Bankruptcy Filings

While bankruptcy itself can be a long process, your filing with the court can be done quickly through an emergency bankruptcy filing in New Jersey.

An emergency bankruptcy filing may take place when a debtor needs immediate relief because they are facing wage garnishment, mortgage foreclosure, vehicle repossession, or any number of financial stressors. When filing for emergency bankruptcy in New Jersey, you will submit a skeleton petition and a few other documents, just enough information to start your case. In the coming weeks, our lawyers will submit all other necessary information to the court. While you can file your initial petition quickly and get an automatic stay put in place, the entire bankruptcy case will not be sped up in New Jersey.

If you need our New Jersey attorneys for emergency bankruptcy filings to review your case for free, call the team at Young, Marr, Mallis & Associates now at (609) 755-3115.

When to Consider Filing for an Emergency Bankruptcy in New Jersey

Dealing with creditors and the stress that comes with having considerable debt can cause some debtors to put off dealing with their circumstances until it is almost too late. An emergency bankruptcy filing can help alleviate some of that stress for debtors in New Jersey.

Filing for bankruptcy is a process, one that involves countless pages of documents that you must submit to the court. With emergency bankruptcy, you can file what is known as a skeleton petition, or one that includes the minimum information about your case, to get relief from creditors and an automatic stay put in place. This will give you the time you need to get your affairs in order and gather the other necessary information for the court.

You should consider filing for emergency bankruptcy if your home is at risk of foreclosure or is about to be sold at a sheriff’s sale. An emergency bankruptcy filing will stop all efforts from creditors to collect on your debts, including mortgage foreclosure proceedings.

Fast bankruptcy filing might also be necessary if you are facing eviction, car repossession, or wage garnishment in New Jersey.

Because initiating an emergency bankruptcy is a quick process, you should discuss the pros and cons of fast filing with our attorneys for emergency bankruptcy filings. Although you will have time to submit additional paperwork to the court, it is important that you have a thorough understanding of your financial situation, the chapter of bankruptcy you are filing, and what will be required of you to cure your debt in New Jersey.

How Can You File for an Emergency Bankruptcy in New Jersey?

When filing for emergency bankruptcy in New Jersey, you will submit what is known as a skeleton petition. This is the bare-bones bankruptcy petition that contains just enough information to initiate a case.

Bankruptcy filings are typically comprised of lengthy documents and can be, in total, upwards of 50 pages. To properly fill out all necessary documents included in a bankruptcy filing, you must provide a detailed account of your assets, income, savings, dependents, creditors, and other personal and financial information. Most of that can wait when you file an emergency bankruptcy petition in New Jersey.

That said, emergency bankruptcy filings must contain some information about your case. So, to file for emergency bankruptcy, you must submit the petition, the creditor matrix, a certificate of credit counseling, and a statement of Social Security number.

The petition will include your name, the chapter of bankruptcy you are filing, your address, the size of your debt, and the value of your assets. The creditor matrix contains a list of entities or people you owe money to and how much you owe. In New Jersey, debtors must also complete credit counseling courses before declaring bankruptcy.

Once you have filed the initial petition and the other necessary information, you will have two weeks to provide the court with additional details about your case. Filing all the necessary paperwork within two weeks can be challenging, but our lawyers can prepare the proper documents so that your emergency bankruptcy case goes as smoothly as possible.

What to Remember During an Emergency Bankruptcy Case in New Jersey

Emergency bankruptcy filings can happen so quickly that debtors might become confused along the way. Even if you need relief now, it is important to take a deep breath and fully consider the reality surrounding emergency bankruptcy filings in New Jersey.

All bankruptcy petitions, including skeleton petitions, need to include the chapter of bankruptcy that the debtor is filing for. You will have two options when it comes to bankruptcy chapters: Chapter 7 and Chapter 13. Based on your income and debt, our lawyers will confirm which chapter is best for you. It is important to take time to discuss this, as the chapter you file will dictate how your debt is handled.

Though you may be able to file quickly through an emergency petition, that does not mean that the entire bankruptcy case will be rushed. Depending on the chapter you file, it might be years before your debt is fully eliminated. If your situation suits Chapter 7, you can resolve your case within four to six months. If you file Chapter 13 bankruptcy to avoid asset liquidation, your case might take three to five years to complete in New Jersey.

Although bankruptcy is a good option for many facing overwhelming debt, it is not a situation one should enter into lightly. It is important to understand the impact emergency bankruptcy filings can have on debtors’ credit scores so that they can make a plan to revive their credit following the resolution of their cases.

Call Our Lawyers About Your Bankruptcy Case in New Jersey

Call the attorneys for emergency bankruptcy filings at Young, Marr, Mallis & Associates at (609) 755-3115 to get a free case assessment today.