Emergency Bankruptcy Filing Washington

You may feel hopeless, and at the mercy of a faltering economy, but don’t despair. Relief is available, and there is no shame in using the law to protect yourself when you are buried under a pile of debt. You aren’t responsible for the economy, and you didn’t create the mortgage crisis. So use the law to protect yourself and your family.

A Second Chance

Bankruptcy laws are in place to help Americans get a second chance when they are snowed under by economic pressures. You have rights, including the right to be free from harassment by creditors. If your creditors are hounding you, you can make them pay. And if your debt has become more than you can manage, you may be able to file for bankruptcy.

Emergency Bankruptcy Filings

No one wants to declare bankruptcy. But often, the scenario requires it. And in some cases the scenario needs that it happens today! A bankruptcy case normally takes anywhere from one week to a month to prepare. The bankruptcy court needs a lot of details from you, consisting of information on income, possessions, financial obligations, monthly expenditures, and financial deals that have taken place over the last number of years. All of this usually takes time to pull together.

Nevertheless, often clients will come in and they don’t have a lot of time to spare. There may be a foreclosure sale set on their house showing up, or there might be wage garnishment that is going into impact on the next income, or maybe they are having their bank accounts frozen and require access to those funds. In situations where a bankruptcy filing is needed instantly it can happen through what bankruptcy lawyers call an emergency filing. Especially when you live in Washington State or in a nearby county.

Why

Why you would have to submit an instant bankruptcy goes back to the one of the most powerful tools in bankruptcy – the automatic stay. The automated stay is an order released by the bankruptcy court right away upon the filing of your bankruptcy case. This order stops all collections efforts versus you, consisting of foreclosure sales, garnishments, and claims. The reason that one would want or need to submit an emergency bankruptcy is because of a pending or foreclosure sale that you need to stop. The filing of the bankruptcy case will stop such things instantly.

When

An emergency situation bankruptcy filing can be done at any time prior to the event that you are trying to stop. For instance, if your home is to be foreclosed on at noon on Wednesday, your bankruptcy case would have to be submitted at some time before then. While not perfect, We have filed bankruptcy cases within hours of a pending foreclosure sale to stop the sale of the house from moving forward.

It is very important to know that if you have actually had your earnings garnished or money secured of your savings account that the bankruptcy filing will stop future garnishments however that you will not be getting the cash that has already been garnished back. One exception to this rule is when it concerns foreclosures. If your car has recently been repossessed, you can submit a chapter 13 insolvency and get the car went back to you. All of this is common in Washington and throughout the region, and remember, the time to do something is now.

How

There is remarkably little details that is needed for an emergency bankruptcy filing. The bankruptcy petition must be completed. The petition is a three page files which contains your name, address, social security number, and some general information for the bankruptcy court. You will be needed to complete a pre-bankruptcy credit counseling course. Through my office this can be done online or over the telephone and takes a little bit more than an hour.

When these items are assembled the bankruptcy petition can be filed through the court’s electronic filing system – implying it will have an instant impact of stopping whatever it is you are having to stop.

Emergency bankruptcy filings are not the standard nor the preferred way to get into a bankruptcy case; but if you are attempting to conserve your house or stop a garnishment I can assist you in getting the case filed quickly to limit the damage that is headed your method.

I offer a complimentary bankruptcy assessment where we can discuss your specific scenario and identify if personal bankruptcy is a good option for your financial troubles.