Debt is definitely something that is stressful. At times, it can be so
overwhelming that you simply do not know how you will ever get a handle
on it. When you are at this point, it could be time to
Naturally, bankruptcy is not something you should take lightly. Instead,
it should be carefully considered before making a final decision. To help
make the decision-making process a bit simpler, here are some signs that
it's time to consider bankruptcy.
Using One Credit Card to Pay Another
One of the dangers of this is that you are continually increasing the amount
of interest you are paying each month. Also, eventually, you will run
out of credit and be left without any credit and a huge payment.
Constant Calls from Debt Collectors
If you are struggling with the constant calls from debt collectors or are
in the process of being sued by a collector, it may be time for you to
Experienced a Severe Financial Crisis
One of the main reasons people wind up filing for bankruptcy is when they
are dealt a bad hand and go through a major financial crisis. This could
include going through a divorce, losing a spouse to death or even being
let go from your job.
It will take longer than 5 Years to Pay Everything Off
When you look at what should be considered short-term debt and realize
that it will take longer than 5 years to pay it off, it is possible that
you may need to consider bankruptcy.
Home and Auto Payments Are Delinquent
A bankruptcy could help give you some breathing room when you are struggling
to pay your necessary bills. If you are struggling to keep your home and
auto payments current, this may be something you want to consider.
If you are struggling to pay your bills or get your debt under control,
these are definitely things you will want to watch for. After you have
determined that bankruptcy is the right answer for you,
contact us. We will be able to help you get your life together and back on the right path.