the bankruptcy process

How Fast Can I File Chapter 7 Bankruptcy?

How fast you can file Chapter 7 bankruptcy depends a lot on how quickly you can provide information to your Chapter 7 bankruptcy attorney. In some instances, you can file an emergency Chapter 7 bankruptcy, which puts the Automatic Stay into effect while you and your Chapter 7 bankruptcy attorney continue to gather necessary information for the remainder of your filing. Click for a FREE CASE EVALUATION and we’ll call you today.

Reasons To File Chapter 7 Quickly

Wage Garnishment—If you’re facing a wage garnishment, filing a Chapter 7 bankruptcy will put a halt to the wage garnishment. Whether this will be a permanent solution or not depends on the type of debt which gave rise to the garnishment. If the debt will be discharged in bankruptcy, you should not experience the garnishment again. If the debt will not be discharged in bankruptcy (Spousal support, some IRS debt, etc.) then the garnishment may start again after your Chapter 7 closes out, or after the creditor applies for and receives Relief From Stay.

To Prevent Foreclosure—If you have a pending foreclosure, filing a Chapter 7 bankruptcy will halt the foreclosure process. Keep in mind, this may only be a temporary delay in the foreclosure process. Unless you’re able to get current with the mortgage lender quickly after filing, the lender will probably appeal to the court for Relief From Stay, in order to once again pursue their foreclosure. Even if the foreclosure does move forward, you may be entitled to some proceeds from the foreclosure under the Homestead Exemption in Chapter 7 bankruptcy.

To Prevent Repossession—If your vehicle is about to be repossessed, filing a Chapter 7 will freeze the vehicle lender in their pursuit to repossess. You’ll need to be ready to get current on your loan before your 341 meeting (40 days after filing), or expect the repossession efforts to continue at that time. You’ll also be given a chance to surrender the vehicle, if you want to get rid of the car and the heavy debt associated with it.

To Stop A Lawsuit—Filing a Chapter 7 will put the court on notice that you have filed and the Automatic Stay in bankruptcy is in effect. This serves to stop judicial proceedings against you. Depending upon the type of debt which gave rise to the lawsuit, there is a good chance our Chapter 7 will eliminate the debt and the lawsuit with it. In that case, the creditor will no longer have any rights against you.

Requirements To File Chapter 7 Quickly

Our firm can generally work as quickly as you would like, to file a Chapter 7 bankruptcy. The answer to “How fast can I file Chapter 7” is often: how fast can you do or provide the following:

Take the required online Credit Counseling course

Provide six months history of income

Provide two years of tax returns

Provide a current monthly budget of income and expenses

Provide limited other necessary information required to file

Pay Your Attorney Fee

Further Reading

You can read more articles on our Bankruptcy Blog Articles page, or click one of the recent articles below:

How Long Will My Bankruptcy Take?

Can I File Bankruptcy And Keep My Car?

Speak With A Chapter 7 Bankruptcy Attorney Today

Find out how fast you can file a Chapter 7 by calling us today at 704.749.7747 or by clicking for a FREE CASE EVALUATION. We will reach out to you within 24 hours to discuss your reason for filing, and to put a plan together to fight your creditors by using the powerful resource of a Chapter 7 bankruptcy filing. When it comes to choosing a law firm, we know you have options. We hope you choose to Recover With Us.