How long do I have?

[chriskfromsc]

It is inevitable that I will be filing for Chapter 13 soon as I have recently legally separated and are awaiting divorce proceedings. I am trying to save up some money to get my house in order since I moved out and also save enough to get up to the maximum state exemption. I am keeping my mortgage payment current (my wife is "renting" from me since she can't qualify to get loan put in her name) and keeping cars and boat current that we will be keeping and reaffirming. But I have stopped paying on a second house that we will be giving up and another vehicle we own plus our credit cards.
I have a high income and it is more advantageous to wait it out a while to prevent starting my CH-13 payment which I suspect will be high.

So the question is: How long do I have until I have to file? And what can I do to prolong the wait? And what will be the tell-tale sign that I need to file immediately?

[Pjmax]

Divorce and BK at close to the same time can bring on additional problems. If anything you plan on BKing is in both your names, first find out whether the non-BK party will be held responsible. I would also make a few appts. With BK attorneys now, so you have some time to plan, ask questions, and avoid any preventable issues. Also, you will already have your attorney selected (which can sometimes take awhile) and you would be able to file quickly if something comes up.

[LadyInTheRed]

The tell-tale sign that you need to file will be when a creditor sues you and the lawsuit is at a point where they are about to get a judgment against you or when a lender starts foreclosure proceedings on a property you want to keep.

You should definitely consult with a BK attorney for the reasons Pjmax mentioned.