Best time to file during the month?

[inseriousdebt]

Does anyone have any insite on which time of the month is best to file? I thought I read somewhere in the past that there was a good time and a bad.......

[aa06a47]

I'm always told it is best right near the beginning of the month or right after you get paid (as long as your funds are earmarked for allowed expenses). Reason being, the amount of money you have earned (but not yet paid) is part of the bk estate.

For example, If you get paid on the 15th and last day of the month, if you file on the 14th instead of the 16th, there will be a part of the income the bk court claims for the money earned 1-14). Yes, complicated.

[SinkingFast]

It's a combination of variables.

When you get paid and when bills are due are a couple of variables. Time your filing when you have the least amount of money in the bank acct at a particular point in time that you'll have to cover with an exemption.

Our exemptions specifically state we can exempt all but 10% of earned but unpaid wages. There's no dollar figure on that exemption. Just the %. So that's part of what figures in to choosing our date.

So for us, with pay days the 15th and the last day of the month, somewhere right at those dates would be best for us. Possibly the 1st and/or the 16th?? Most bills paid, least amount of money in the bank, and only 1 day's earned but unpaid wages to consider.

[aa06a47]

Yep, I agree with you SF.

[so-beyond-broke]

Looking for the perfect time too.

Hi There:

How would the best filing period work for me? I get paid on April 14 and April 28 and my son will get his SSI on 3/31 which is really for 4/1. I want to file during my vacation time from school where I work. I am thinking 4/21 - a Friday. This would be 3 weeks after the SSI (should be exempt anyway) and 1 week after getting paid and 1 week before getting paid again. I am broke anyway. My $$ goes to bills. The next payday would be 5/15 & 5/31. Any suggestions I am looking for the perfect filing time too.

sbb

[djk]

many states have exemptions for wages earned so I would guess that the actual date in relation to pay period in most cases is insignificant. I filed on Friday the 13th (1/13/2006) Pro Se and things have progressed well. I think it is more important that you have a clear understanding of the 3 month process after you file than on what date you do file. Read alot, this forum brought to my attention a bunch of stuff that made my journey through the process better.

[aa06a47]

Hi There:

How would the best filing period work for me? I get paid on April 14 and April 28 and my son will get his SSI on 3/31 which is really for 4/1. I want to file during my vacation time from school where I work. I am thinking 4/21 - a Friday. This would be 3 weeks after the SSI (should be exempt anyway) and 1 week after getting paid and 1 week before getting paid again. I am broke anyway. My $$ goes to bills. The next payday would be 5/15 & 5/31. Any suggestions I am looking for the perfect filing time too.

sbb

I would file as soon as possible after the 14th or 28th. Are you filing your own, or do you have an attorney.

[SinkingFast]

I'm thinking right before April 28th. Unless you have some odd exemption about earned but unpaid wages thing going on.

Right before your last pay of the month would probably be the lowest amount of cash money you'll have on hand or in your bank acct.

Gotta check on exempting your earned but unpaid wages tho.

[so-beyond-broke]

Hi AA:

I am going at it on my own. Don't have any assets and can't afford a lawyer. I will try to file between the 2 pay periods. I just need to figure what money will pay for what bills so that I pay them with money orders. I want to leave as little in the bank as possible and cover it with the exemptions.

sbb

I would file as soon as possible after the 14th or 28th. Are you filing your own, or do you have an attorney.

[so-beyond-broke]

Hey Sinkingfast:

How do you figure out the "earned but unpaid wages?" In NY I am allowed a max of $2,500 to exempt if I don't claim a homestead which I don't because I pay rent. Between my wages and child's SSI I am no where near that $2,500 mark and all of my money goes to cover my monthly expenses. Thanks for the advice. I wanted to go to the court before the 28th like on the 21st the last day during my school vacation. Don't want to start having to take off unnecessary days from work - I will need those for the 341 and the reaffirmation of my car meeting with the judge.

sbb

I'm thinking right before April 28th. Unless you have some odd exemption about earned but unpaid wages thing going on.

Right before your last pay of the month would probably be the lowest amount of cash money you'll have on hand or in your bank acct.

Gotta check on exempting your earned but unpaid wages tho.