What is an Emergency Bankruptcy?

An Emergency Bankruptcy is when a debtor files a "core petition" so a case number is issued immediately.  The reason is often to stop a foreclosure.  An Emergency petition can be filed the same day.  The debtor must take a prebankruptcy class before filing as well as have a list of creditors available from which the attorney can make a mailing list. Also, the debtor must sign several forms.

An Emergency Bankruptcy Offers Immediate Protection

Once the case is filed, the automatic stay goes into effect which block all creditor actions against you. This includes foreclosures, lawsuits and all other legal actions. If you need the protection of the automatic stay immediately, then an emergency bankruptcy can accomplish it.

It's Generally NOT a Good Idea

Unless you absolutely have to file an emergency petition, it's not a good idea. Many people will wind up missing the deadline to file the rest of the required forms which will result in a dismissal of the bankruptcy case.