Legal Question in Bankruptcy in California

My wife and i have been given our notice that we are fired as of december.. if we count our income now we wont meet the means test but if we dont include income from the job we meet it so should we wait until december to file the pap;er work?

Asked on 11/12/14, 1:20 pm

2 Answers from Attorneys

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.

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Answered on 11/12/14, 1:21 pm
David Rausa D.J. Rausa, Attorney at Law

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.

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Answered on 11/12/14, 1:44 pm

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