If you are renting on a long-term basis, your dwelling may be considered an asset, and the landlord may have to wait to evict you until they have a formal order. If you want to know other details, contact a truck accident lawyer today. Now that you have stopped the intruding collectors, you need to decide whether or not to hire a bankruptcy attorney. Lawyers are expensive, but they can be invaluable if your bankruptcy case gets complicated. If you have a large amount of assets, or if there are any foreseeable problems, you might want to go ahead and locate a seasoned bankruptcy lawyer. If you can’t afford a lawyer, you can find a nice do-it-yourself kit online for about 15 bucks. This is no way a substitute for sound legal advice, but it will help you get the ball rolling when it’s finally time to file.
An emergency filing is done with one piece of paper that contains a list of your creditors. This differs greatly from a bankruptcy filing which contains many pages of information. With an emergency filing, you will have 14 days to file the rest of the petition, or your case will be dropped. Once the emergency petition is filed, your creditors will get a notice that a bankruptcy is pending and that they must stop any and all attempts to collect on the debt. Some creditors will ask the court if they will lift the automatic stay so that they can continue trying to collect the debt, but usually the only type of creditor that may succeed will be a landlord. Unless you have a long-term lease established, a landlord may still be able to evict you from the dwelling you reside in if they are given the go ahead to pursue collecting your debt.
Creditors are blowing up your phone, and starting to come around your business or your home. You have a pending foreclosure, and you have heard people use the term ‘wage garnishment’ in reference to dealing with your debt. If you have had enough, and just cannot take any more, it may be time to file for bankruptcy. Once you have come to this realization, all that’s left to do is to begin the filing process. In some cases, you can file an emergency petition in order to obtain an automatic stay. An automatic stay will stop collectors in their tracks, and prevent them from taking any more action to collect their debt until the case goes to bankruptcy court.