Legal Question in Bankruptcy in California

Re: When to file?

When to file is more a function of the history of payments on your credit card debt and what assets you have than it is of other factors. For example, if you used your credit cards right up until now, it might be best to wait a couple of months and continue to make minimum payments on the cards with the recent purchases. However, this is a bit of an oversimplification. I highly suggest you call for a consultation to go over your situation in more detail. Best Regards, Mark (818)509-1173

Re: When to file?

The timing of the filing of a consumer bankruptcy can be especially important if there have been recent cash advances or "luxury purchases". Depending on the amount and the timing a creditor might consider contesting your discharge through an adversary proceeding.

Usually, I would recommend to exhaust all non bankruptcy remedies (e.g. workouts, family etc). However, it appears that you do not feel you will be earning the same money even when you do find new employment. Therefore, now might be the time to at least set an appointment with a bankruptcy lawyer.

If you are in the Southern California area we would be happy to schedule a free consultation.

Regards,

Slate and Leoni