Should I file Ch 7 before the end of 2010?

[kmiller]

I will be filing Ch 7 in California in the next 2 weeks. Should I file it in 2010 or 2011? All my debts are for a general partnership small business. Is there an advantage to filing this year or wating until 2011?

Thanks

[HHM]

Not really.

[AngelinaCat]

The only compelling reason to file the last business day of this year is if you have:

(1) a bonus or other large sum of money coming in January or February 2011, and you have to wait six months for it to 'fall off the radar' of the six month look-back period, and
(2) an impending lawsuit which will result in a judgment against you before the six month period ends.

Other than something like that, no.

[kmiller]

Pending lawsuit

I have a pending lawsuit that will take place in January 2011. I will loose and owe money to the vendor. When should I file?