Legal Question in Bankruptcy in California

Hello and thanks for the question. Timing is everything with regard to bankruptcy. If you wait to file, that is perfectly appropriate and almost a mandatory consideration. However, you should have a competent bankruptcy attorney handle your bankruptcy to review the means test and/or whether you should file for bankruptcy at all.

If you have written notice of job termination, even though you do not pass the means test, there is still a reasonable basis to have a successful Chapter 7 case. Income on an ongoing basis is taken into consideration, In Re Lanning.