Are you struggling to pay your bills, and are finding yourself falling deeper into debt? You might be wondering if you need to file for bankruptcy. When in doubt, you should always consult a bankruptcy attorney. Some signs that can indicate you should file for bankruptcy are:

 

 You Cannot Afford Your Normal Living Expenses and Bills

Each month are you trying to determine which bills to pay, and which to put off? Are you juggling to pay your daily living expenses, like groceries, fuel, and clothing? If you’re maxing out credit cards to buy necessities or pay bills – pushing yourself further into debt – it can signal you need to file for bankruptcy.

 

You’re Not Paying Minimum Fees On Credit Card Bills

Is your credit card bill so out of hand that you cannot pay the minimum payment due each month? Or are you only paying the minimum payment due each month on several credit cards? Or worse – are you using one credit card to make a payment on another? This can prevent you from getting out of debt by maintaining high balances on your cards. 

 

You’re Being Harassed by Creditors

Are you getting constant calls from creditors looking for payments? Being late on payments can be stressful, and getting calls and letters from creditors asking for money can be embarrassing and nerve-wracking. While ignoring the demands might work temporarily, it is not a long-term solution to deal with your debt. The calls will continue until you pay off your creditors, or your debt is resolved.

 

You’ve Considered Debt Consolidation Services

Have you seen debt consolidation ads and thought, “I could use those services”? It can signal you need to find a solution to deal with – and eliminate – your debt. While you will pay interest in a debt consolidation plan, your debt will likely be taken care of during bankruptcy proceedings. 

 

You’re Facing a Lawsuit

Are you facing legal action from debt collectors? Instead of dealing with a court case, you could instead file for bankruptcy. This will halt the lawsuit and protect you from debt collection actions. 

 

You’re Facing Home Foreclosure

If you’re behind on your mortgage and are facing foreclosure, filing for bankruptcy can allow you to keep your home and pay off your back payments. A bankruptcy attorney can help you find a solution to stay in your home. 

 

You’re Struggling To Make Ends Meets

Are you running out of money before your next payday, or using credit cards to buy necessities because you don’t have cash on hand? This can signal you’re struggling financially and falling further into debt. You can benefit from getting out of debt to eliminate additional bills and free up money each month. 

 

You’re Dipping Into Your Savings

If you are not only spending all of the money in your checking accounts but are also blowing through your savings, it can signal you need financial help – and fast. Unless you are expecting a large raise at work or an additional source of income, you will not have the means to get out of debt. Filing for bankruptcy and working with an attorney can help you eliminate debt and create a better financial future for yourself.

  

Contact a Bankruptcy Attorney

If you are drowning in debt, you may need to file for bankruptcy to improve your financial situation. It’s crucial to hire an experienced attorney to help you through the process. Our experts can help you determine the best way to preserve your credit and increase your credit score as soon as possible. Don’t let debt ruin your life. Call (405) 529-9377 for a free case review.