When to File For Bankruptcy is a very difficult decision for most people to make.
In my practice, I found that generally most people delayed too long before filing for bankruptcy. They hated the idea of filing bankruptcy for a variety of reasons. They felt it was an admission of failure or perhaps they have heard stories of what bankruptcy was like (invariably the stories were false) and feared declaring bankruptcy.
In my opinion a person should file for bankruptcy (or a consumer proposal) when he or she realizes there is no reasonable hope of paying their bills in a reason period of time