How do I file an emergency bankruptcy petition to stop a pending foreclosure?

Filing for bankruptcy can be a time-consuming process. If your house is about to be sold at a foreclosure auction in a matter of days, you can file an emergency petition, which will immediately halt the foreclosure.

To file an emergency petition, you need to complete two documents: the three-page voluntary petition form (which you can find on the United States Courts website at www.uscourts.gov) and the creditor’s matrix (in which you list the names and addresses of each of your creditors). In an exhibit to the voluntary petition, you will have to certify that you received credit counseling (which all bankruptcy filers are required to complete) or you were unable to complete counseling due to emergency circumstances (and explain what those emergency circumstances were).

Once you file the emergency petition, the automatic stay will go into effect and all collection activities, including any pending foreclosure sale, must stop immediately. You will then have 14 days to complete your bankruptcy filing. (For more on what additional forms you need to complete when filing for bankruptcy, see our articles How to File for Chapter 7 Bankruptcy and How to File for Chapter 13 Bankruptcy.) Don’t miss that 14-day deadline, otherwise your petition will be dismissed and the automatic stay will be lifted.