Forms That Are Needed for an Emergency, Chapter 7 Bankruptcy Filing
If you are eligible, you can file for an emergency, chapter 7 bankruptcy to deal with pressing debts with an "automatic stay." This will give you as a debtor some time to put off frightening pre-bankruptcy issues, such as repossession of a vehicle, wage garnishment, or home foreclosure.
However, if you do not properly file for your chapter 7 bankruptcy, your case might be dismissed and you may have to wait before being eligible to refile. This means that it's important to get all the necessary forms in on time to prevent any mishaps.
All of the following forms generally need to be filed for an emergency chapter 7 to be accepted by a bankruptcy court:
The voluntary petition
The voluntary petition is one of the most important and basic documents in a chapter 7 bankruptcy filing. It's also generally the first thing that needs to be submitted for bankruptcy proceedings to begin. This group of documents is often referred to as form number B1.
The voluntary petition will provide an overall summary of the bankruptcy case, including general information about how much money is owed and how many different creditors are waiting to collect outstanding debts from the debtor in question.
The creditor matrix
The creditor matrix goes into more detail than the voluntary petition. The creditor matrix will list the various creditors to whom money is owed. It will also list any interested parties that should be notified about the bankruptcy filing.
Documentation of credit counseling or an exemption
In most bankruptcy filings, it's necessary for a debtor to show proof that he or she has sought credit counseling. However, in emergency circumstances it's sometimes possible to file a Motion for Exemption from Counseling or a Certificate of Exigent Circumstances to avoid this requirement.
Filing an exemption will speed up the process and assist debtors in pressing circumstances. Arranging for credit counseling involves setting up an appointment, and this takes time. If debtors can demonstrate that their situation is an emergency, they can often expedite the filing process.
Exhibit D
Exhibit D relates to the above-mentioned documentation regarding credit counseling. An exhibit D form indicates that, although the debtor may not have already received credit counseling, the debtor will be attending a court-approved counseling class in the future.
There are some extreme circumstances whereby debtors can be exempted from even exhibit D bankruptcy counseling class requirements. For example, a disability can be shown to prevent debtors from attending such classes. Also, service members currently working in war zones are generally exempted. For more advice, consider speaking with a representative of Donald T Tesch, PS.
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