Sometimes it makes sense to file for bankruptcy right away, and sometimes it's beneficial to delay your filing. How to time your bankruptcy petition depends on numerous factors. For example, if you are facing imminent foreclosure or car repossession, you may need to file immediately. On the other hand, if you will incur more debt in the near future, will more easily qualify for the Chapter 7 means test in a few months, or just moved and want to take advantage of your new state's exemptions, delaying your bankruptcy filing might make sense.
The articles below discuss the many factors to consider when you are deciding on the timing of your bankruptcy petition.