When Can You File Emergency Bankruptcy in New Jersey?

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When Can You File Emergency Bankruptcy in New Jersey

A bankruptcy trustee will oversee the process of filing for bankruptcy. They will review the documentation and look for any non-exempt property that the debtor possesses. They may handle the sale or liquidation of these non-exempt assets. New Jersey bankruptcy districts provide contact information for the trustee. This link – scura.com

Handle The Sale Or Liquidation Of These Non-exempt Assets

Once the debtor files for bankruptcy, the court will mail a notice of the filing to all of the creditors on the debtor’s list. This process may take several days. Therefore, it is important to contact your creditors directly or through their attorneys as soon as you become aware of collection activity. Be sure to provide them with your bankruptcy case number and the court where you filed for bankruptcy. You may want to take a note of who made the call so that you can remember who it was.

An emergency bankruptcy filing allows the debtor to stop any collection action pending against them. However, it does not guarantee an automatic stay. As such, it is best to contact a bankruptcy lawyer in your area for advice. Filing for bankruptcy under emergency circumstances can help a debtor prove that they genuinely need relief from their debts.

If you have two or more bankruptcies in the past year, the automatic stay will not apply. However, you can still file a motion to impose a stay and wait until the order is issued. If you do not file an emergency bankruptcy in time, your debtors can continue to contact you, and you will not be protected from further collection actions.

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