Timing Your Bankruptcy Filing
This idea may sound rather simple but it might make a difference - wait until just after payday to file.
Wait until all outstanding checks have cleared your checking account before filing. Though it sounds a bit odd, some court trustees have declared the entire balance in a checking account to be a cash asset even though there are checks that haven’t yet cleared. If you’re expecting a tax refund check or some other lump sum settlement, wait until after it’s been deposited and spent.
The overall goal of filing timing is to file when your debt load is at an absolute peak. This move may help protect you from the chapter 13 trap.
If you anticipate needing medical treatments, this may be the best time to see your doctor. Get the treatment you need and then get those medical bills in hand before you file. Stock up on any needed medicines.
Be very careful about taking a vacation during the year before filing. If you do take one, try and keep if “off the books” as much as possible. Bankruptcy abuse is a serious topic. If the court feels that you are not cooperating with them “in good faith”, you could be in serious trouble. An expensive vacation looks very suspicious for someone who’s supposed to be having serious financial problems.
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