[pnutjam]

If you have a severe loss in income, bankruptcy after 2 years is probably too late. She probably cleaned out her retirement funds, which used to be largely protected from bankruptcy. Just because she looked important at work, doesn't mean she was compensated as much as you all seem to believe.

[dragonwriter]

It seems natural that bankruptcy filings would normally be “too late” from a retrospective position; the negative consequences favor delay if turnaround is reasonably possible, but the best time too have filed will probably be in the past once you've determined you need to.