The timing of filing a bankruptcy case can be all-important.  At tax time, which is right around the corner, timing can be an issue for many people.  The tax refunds you may be entitled to receive may become property of the bankruptcy estate.  Sometimes a portion of those refunds may be exempt.  Sometimes receipt of the refunds before the case is filed is necessary so that you can hire counsel to assist you with the bankruptcy process.  How you spend your tax refunds that you receive pre-bankruptcy may be reviewed, and there may be legal consequences as to how you spent them.

There are many other timing factors that may come into play, besides just tax refunds.  For example, when you get your paychecks, when checks clear out of your bank account, when you last filed tax returns (especially if you owe back taxes), when you transferred property, when a foreclosure sale of your property is set to occur, when a divorce case you are involved in is decided by the state court, when you repaid your creditors; some or all of these may matter in any given case.  CR&L can sort through the issues and apply our knowledge of bankruptcy law to assist you in determining the optimal time for you to file a bankruptcy case.