The Bankruptcy Option How to know if you’re heading towards going bankrupt: Let’s be honest here. Most of us don’t make nearly enough money in one month to be able to afford our bills (i.e rent, mortgage, car payment, insurance, doctor bills, credit cards, etc.) and what happens when we are running low on money? We charge it to the card. Almost everything gets charged to the card, and then it becomes a vicious cycle. So how do we know when we’ve gotten in too deep and can’t get out?

  • Are creditors calling to harass you? Maybe you get calls on a daily basis reminding you that your payment is past due? Or they’re threatening you with “this will be our last attempt to resolve this debt before we send your account to collections.” You can afford the monthly payments though…. Right? Truthfully, it is unrealistic to rack up money on your credit cards, make the minimum payment each month and expect to pay it off.
  • You have difficult time saving money. You’re living paycheck to paycheck, month to month. You have debt up to your eyebrows, and you can’t seem to save even a little bit of money even just for emergencies. Many people live their entire lives like this, and when one unexpected thing happens; their lives turn into a financial disaster.
  • You forego necessary items to keep up with your debt. This does not mean not going shopping whenever you have free time, or not buying the newest smart phone. This means, cancelling your health insurance or not fixing your car because you just can’t afford to front that money without being late on your monthly bills. Lawsuits, wage garnishments, repossessions, foreclosure rear their ugly head. It is time to get help!!!!

There are many ways to know if you’re heading towards going bankrupt. However, bankruptcy should always be a last resort. If your financial health is being challenged constantly despite your many efforts to fix it, don’t ignore it. Don’t go through this alone. Speak to a qualified bankruptcy attorney today. Restart your financial life. There is life after bankruptcy and what a life it can be!!