An Emergency bankruptcy case is possible. If that’s what you need, we’ll try to help you if we feel we can get it done for you. – We have the experience and the capability at Bayer, Wishman & Leotta to handle an emergency bankruptcy. We can also take over after someone else has filed it for you. We do our filings electronically. Precious minutes count when there is an emergency. Electronic bankruptcy filings save time, and save houses from foreclosure. Especially when things come down to the wire.
Filing an Emergency Bankruptcy case is risky. It often puts you in the position of not really knowing what you are getting into. Many lawyers will not handle one. Here are just some of the problems that are waiting for you with an inexperienced lawyer:
- The case might be filed under a chapter of bankruptcy that you are not eligible to file;
- The case might expose you to legal risks that are unexpected and not what you bargained for;
- The case might not bring you the help that you were expecting it to bring.
Los Angeles Attorney Does Emergency Bankruptcy Filings: What is an Emergency?
The typical Los Angeles Emergency Bankruptcy Case is filed to stop a foreclosure sale. Stopping the sale is fine. After that, what are you going to do next? Reinstate the loan, sell the property, or what? The same problems you already had are still with you. You need a game changer, something new and creative. Learn more about how chapter 13 can help save your property.
Many people file because they are panicked. They can’t think it through. They don’t know what their next move should be. They have no strategy to take them past the date of filing. At Bayer, Wishman & Leotta we have the expertise to advise you of your options. Our first goal is to suggest a realistic strategy. Our next goal is to make it happen.
What kind of bankruptcy case do you need? Chapter 7? Chapter 13? Chapter 11? Maybe you really shouldn’t file anything?
Chapter 13 is an excellent remedy to save your property from foreclosure. But the rules are complicated. Not everyone is eligible for a case. Not everyone is capable of doing a case. For a further explanation, see, Los Angeles Bankruptcy Lawyer Explains, “Chapter 13 vs. Chapter 7 Bankruptcy. Also see, Los Angeles Bankruptcy Lawyer Shows How to Strip a Second Mortgage in Chapter 13.
We generally refer to an Emergency Los Angeles Bankruptcy filing as a so-called ‘skeleton filing.’ Meaning, that the filing has been made ‘bare bones.’ It is filed without all of schedules that are required. The case is “incomplete”. The remainder of the required paperwork must be filed within 2 weeks. If not, the case will be dismissed. There are times when it is absolutely necessary to file without schedules. Even so, you should retain an experienced attorney. Before the case is filed, make a thorough and complete analysis. You need an assessment of what will happen to assets and liabilities. You should have a fully drafted plan, a means test, and the budget. Without doing so, you might not have any idea what you are getting yourself in to. Some people even file who really didn’t need to. One result is having a bankruptcy case on your record for the next 10 years. It will stay on your record even if the case gets dismissed.
Many people file an Emergency Bankruptcy case without a lawyer. They did not have time to find one. Maybe they didn’t have the money. They may expect to hire a lawyer immediately after filing. Get ready for a shock. Many lawyers won’t be interested in taking over your case. It is more work to take over and complete a skeleton filing than it would have been to do the entire case from the start. The court doesn’t usually let the lawyer charge for the extra work. The result is that many lawyers won’t touch your skeleton filing.
If you continue to be self-represented, the odds are that you won’t be successful. The Los Angeles Bankruptcy Court says the Chapter 13 failure rate for people without a lawyer is 99%. You are probably trying to save your home. If so, the Court’s warning should be taken very seriously.