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Fairly darn quick.
Truthfully, I can put together and file an emergency case the similar day you name. However, and it is a large BUT, there are some issues you want to do first.
A full chapter petition is a large authorized doc. It’s often 65-85 pages lengthy, not counting the copies of 6 months of your paystubs and your final 2 years of tax returns. Fortunately, you don’t must file a full petition to cease a garnishment. You may file a skeleton, or skeletal petition, which is actually a bare-bones petition.
What a skeletal petition wants:
- your identify/social/handle
- your on-line bk class certificates (this takes you 1 hour to finish)
- a listing of collectors.
- fee to your lawyer BEFORE you file.
Why do attorneys hate skeletons?
I do know, it sounds straightforward, however there’s loads that goes into it. Chapter attorneys hate submitting skeletal petitions. The rationale why is straightforward: while you’re taking emergency measures and brief cuts, you possibly can actually screw up a case. Your chapter lawyer has to do his “due diligence” in your case, that means that he has put the effort and time into reviewing your belongings to just be sure you don’t have one thing that you simply’ll lose in chapter. Examples embody an excessive amount of fairness in your house or automobile, or an enormous tax refund that you simply haven’t acquired but, or perhaps even an inheritance.
As an illustration, I had a consumer as soon as who had the rights to a small portion of the royalties from a James Taylor track. (I consider this case each time I hear “Fireplace and Rain” on the radio. His portion of royalties amounted to assured earnings of round $300 a month. If I had filed a chapter 7, the chapter trustee would have bought that proper and used the cash to repay collectors. As an alternative, we filed a chapter 13 and used that month-to-month earnings to make a really modest fee to collectors over 5 years. If I had filed a skeleton with out the entire details, my consumer would have misplaced the proper to obtain $300ish a month for the remainder of his life. That’s an enormous deal.
Why do skeletons work?
In lots of chapter circumstances, my purchasers don’t have a proverbial “pot to piss in.” In actuality, they most likely do personal no less than one pot, however their belongings are minimal or are protected by our state exemptions. If I can rigorously assessment their belongings intimately earlier than we file, there’s not a lot room for error. It helps that I’m previous and have performed this hundreds of instances.
Simply keep in mind that your lawyer goes to need to receives a commission earlier than he does the work. He can even must drop all the pieces else he’s doing to arrange the petition. It’s a trouble, for you, for him, and for everybody concerned. However, it may be performed.
Here’s a video I made on submitting a skeletal petition (and sure, I do know my face is humorous. The left aspect doesn’t work, so recover from it).
And right here’s an earlier weblog submit on the identical challenge: https://robertspaynelaw.com/myutahbankruptcyblog/2015/04/06/how-long-does-it-take-to-prepare-the-bankruptcy-paperwork-in-an-emergency/
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