Filing for bankruptcy is typically a process that should not be rushed. The bankruptcy process is complex, and the law requires you to completely, accurately, and truthfully disclose all debts, assets, income, expenses, and other financial information.
Missing a deadline or making a mistake out of haste could create difficulty later on in your filing. It could even mean that your case will be dismissed, or you could have your bankruptcy discharge denied. In the rare event that you intentionally falsified information, you could face criminal penalties.
With all that being said, there are often extenuating circumstances that leave you with little option other than to file an emergency bankruptcy petition. People typically do an emergency bankruptcy in an effort to prevent or halt the following:
- Car repossession
- Foreclosure sale of your home
If you feel that an emergency bankruptcy filing is what you need, you should definitely put a little time aside to consult with a bankruptcy attorney. You should also know what is required in order to file an emergency bankruptcy petition in New Jersey.
Basics of Filing an Emergency Bankruptcy in NJ
Often referred to as the “skeleton petition,” an emergency bankruptcy requires certain documents to be filed. The minimum documents that you must file to start your case are the bankruptcy petition, the creditor matrix, a statement of Social Security number, and a certificate of credit counseling.
The bankruptcy petition is the first three pages of the petition. If filing on your own, you’re required to include your telephone number on the petition. The creditor matrix is just a list of addresses and names of all your creditors, which is critical to any form of bankruptcy.
Aside from the statement of Social Security number, you’ll need a certificate of credit counseling. If you don’t have one, you need to file a motion explaining the circumstances that kept you from getting one. If you feel that you should not have to complete credit counseling, you’ll need to request an exemption from this requirement by filing a motion.
Having the aforementioned documents complete, signed, and filed will get you started on your emergency bankruptcy. It may still seem like a lot of work, but it pales in comparison to the 50 or more required pages of documents needed for an average bankruptcy filing.
An important note to keep in mind is that additional requirements may be needed, depending on the bankruptcy court. For example, you may have to provide written disclosure statements or electronic copies of your documents.
Lastly, you’ll need to pay the filing fee. A Chapter 7 fee is $335, while a Chapter 13 filing fee is $310. If you’re unable to pay the fee, you could apply to pay in installments. Again, if you feel that you should be exempt from paying the fee, you’ll need to file an Application to Waive Filing Fee.
When it comes to the rest of the bankruptcy forms and documents, they must be filed within 14 days. This includes all schedules, statements of financial affairs, and certain financial documents.
Remember that an emergency bankruptcy may not be the answer you need. A bankruptcy lawyer can help you decide what option will work best for you.
Consult an Experienced Camden Attorney for Sound Bankruptcy Advice in New Jersey
In New Jersey, you don’t have to look further than the Law Office of Joel R. Spivack. With more than 25 years of experience with bankruptcy clients, Joel Spivack Spivack has the skill and dedication to help you make an informed and smart decision.
And if Chapter 7 or Chapter 13 do not seem like viable options, Mr. Spivack will share bankruptcy alternatives that might work for you. He represents clients across New Jersey, including Camden, Gloucester Township, Pennsauken, and Haddon Township, NJ. Just call (856) 488-1200 or fill out the online contact form to learn what he can do for you. The firm office is located at 1415 Marlton Pike East, Suite 302, Cherry Hill, NJ 08034.
The articles on this blog are for informative purposes only and are no substitute for legal advice or an attorney-client relationship. If you are seeking legal advice, please contact our law firm directly.