Too much money coming in--please help!

[kathy4530050]

Hi Everyone,

I have been reading and posting on this forum for several months and have been waiting to file in September. I had an unusually large chunk of money come in in February and wanted to wait 6 months for that to drop off.

Today I got what should be good news, but it has me really nervous. I am a self-employed consultant with no employees and one of my clients just emailed me a request that will bring bring in about $50k in the month of May.

I don't have to invoice all at once-- I can invoice over a period of time, but even still, I think I MUST file ch 7 NOW. Business has been horrible for the past 2 years, but has really started to pick up, so I don't think there will be a better time to file in the future.

Does anyone have any advice for me? I am afraid I might be looking at a Ch 13 now . . . yuck.

[HHM]

Yeah, how about go speak to an attorney. Unless you don't take the job, you have an outstanding receivable that is an asset regardless of how you invoice it and will need to be disclosed.

Suck it up, not everyone can file chapter 7. You seem to be making the classic mistake of comparing 7 to 13 which has paralyzed you from taking action these past few months. If you can't qualify for a 7, then you really need to look at 13 vs what other REAL options you have: Do nothing, Debt Settlement, etc.

[kathy4530050]

Yeah, how about go speak to an attorney. Unless you don't take the job, you have an outstanding receivable that is an asset regardless of how you invoice it and will need to be disclosed.

Suck it up, not everyone can file chapter 7. You seem to be making the classic mistake of comparing 7 to 13 which has paralyzed you from taking action these past few months. If you can't qualify for a 7, then you really need to look at 13 vs what other REAL options you have: Do nothing, Debt Settlement, etc.

Yup. That's what I am doing. I just made an appointment for next Thursday with an attorney with considerable small business experience. I guess that at this point I just hand everything over and let it go. I've done my best to plan and prepare, and now I just roll with the punches.