The Telltale Warning Signs
Most of us struggle with finances at some point in our lives. We may have an unexpected illness that makes it difficult or impossible to work, or leads to significant unreimbursed medical expenses. We may go through a divorce or lose a job, or we may simply miscalculate our income and expenses. When is the situation such that your best option for moving forward is filing for personal bankruptcy protection? When might your financial problems be rectified through other means?
Indications That You Are On the Way to Personal Bankruptcy
Regardless of the reasons, there are many warning signs that a personal bankruptcy filing may be in your future:
- You consistently spend more than you take in—Take a look at the end of every month. Were there bills that were due last month that you’re just getting to this month? Does that happen every month? Is it getting worse?
- You’re behind on essential payments—If you’re paying everything else on time, but you’re late on your rent, house payment, car note or utilities, something needs to change.
- You’re paying for necessary items with credit cards—Credit cards are not actually a form of currency—they’re a form of debt. When you use credit cards to pay for groceries, utilities and other essentials, you’re only digging the hole deeper (unless you are able to pay those cards off in full every month).
- You’ve gone through your savings—If you had money in the bank, but you’ve used it to meet your monthly expenses, you need the fresh start that bankruptcy offers
- You’re afraid to answer the phone or go to the mailbox—Because it might be a call from a bill collector or you may have a threatening letter
Contact an Experienced Rockwall, TX Bankruptcy Attorney
At the Law Offices of Carrie Weir, all potential clients are entitled to a free initial consultation. To arrange an appointment, contact my office online or call 972-772-3083. I handle Texas personal bankruptcy filings in Kaufman County, Rockwall County, Collin County, Dallas County, Hunt County and the surrounding counties.