What is temporal bankruptcy?

Temporal bankruptcy is a way to help individuals who owe others more time than they have. Temporal bankruptcy allows the time-debtor to work out time conflicts, develop a plan for managing their time, and repay time to their creditors.

Who can file for temporal bankruptcy?

You must owe a minimum of four weeks to your time creditors before filing for temporal bankruptcy. Before filing, consider clearing up as much time debt as you can on an informal basis, such as going into the office on Saturday, or conversely, taking a personal day on Monday to get a few things done around the house. If you can resolve your time debt in such fashion, temporal bankruptcy is not warranted. Most people who file for temporal bankruptcy do so because there is no other way to reclaim the time owed to their creditors.

How do I file for temporal bankruptcy?

There is a formal procedure and an informal procedure. For the formal procedure, you must fill out an application form, submit a copy of your Outlook calendar for the last six months, and provide a list of all known individuals to whom you owe your time, both secured and unsecured. However, for people who cannot find time to follow these directions, the informal process may be more convenient. In the informal process, an investigator will meet you at your house, sit in the back seat while you drive to work, and try to ask a few questions while you sit in traffic. If you need to make a couple of phone calls to get caught up, go right ahead. We understand.

What is the difference between secured time creditors and unsecured time creditors?

A “secured” creditor, such as your employer, your spouse, or another close family member, has a legal right to a certain amount of your time based on your relationship. Debts owed to secured creditors take precedence over debts owed to “unsecured” creditors who do not have a significant legal interest in your time, such as your Facebook friends, people in your fantasy baseball league, and that guy three cubicles down with the unhealthy interest in the show Game of Thrones who keeps sending you e-mails about how the series differs from the book.

Can all time debts be discharged in temporal bankruptcy?

The majority of time debts to unsecured creditors can be discharged. For example, if you promised someone in your theater-going group that you would read the script they’ve written, that time-debt can be easily discharged. Missed work deadlines and court appearances can be discharged in some cases, but are usually rescheduled. Temporal debts to secured creditors, such as those racked up by never calling your mother, will make up a big part of your repayment schedule. Missing Valentine’s Day or anniversary dinners with your spouse or significant other cannot be discharged under any circumstances.

Should I hire a lawyer?

Getting legal advice is always a good idea before taking a big step like filing temporal bankruptcy. An attorney can help you prioritize your temporal repayment structure, explain your legal rights as a time debtor, and explain to unsecured creditors that you’re not available to look at their Pinterest boards or to go to their cousin’s Chopin recital. However, be advised that all time debts owed to your attorney are considered to be secured debts.

How does temporal repayment structuring work?

You will be assigned a temporal bankruptcy trustee, who will work with you to identify your most urgent and pressing time commitments. The trustee will develop a plan that will allow you to reschedule or discharge other time commitments, and identify unneeded and unnecessary activities in your personal life that can be eliminated or curtailed in order to provide additional time for your creditors. These activities vary from individual from individual, but can include watching Man v. Food reruns, worrying about global warming, and sleeping.

Will I lose all my personal time in temporal bankruptcy?

You are allowed to keep a certain amount of personal time for personal care, physical exercise, and religious observances. Your temporal bankruptcy trustee will work with you to schedule breakfast meetings, working lunches, and dinner parties in order to maximize time that would otherwise be wasted on eating. Your trustee will also provide technical assistance on setting deadlines, managing expectations, and deleting Angry Birds from your smartphone.

What are the consequences of filing temporal bankruptcy?

Filing for temporal bankruptcy is a serious decision and should not be taken lightly. A temporal bankruptcy will remain on your record for up to seven years and will affect your employment responsibilities, job prospects, and personal relationships. What temporal bankruptcy can do is help you clear out time debts that cannot otherwise be paid and rebuild trust and confidence among your secured creditors. And, let’s face it, it’s not like you were ever really going to have enough free time to restore a classic muscle car or learn Portuguese anyway.