Bills are mounting, payments are late, more are due at the end of the month, and anxiety sets in – this is what the brink of a financial danger zone is like. When financial problems become an issue in your life, how do you know when it’s time to just juggle the budget or look into filing for bankruptcy?
First, you’ll want to gather your records and take a close look at your expenditures versus your income. If the mere thought of looking at your bottom line is frightening, chances are good that you’re already in pretty deep. There are always options, though, so don’t let trepidation cause you to drag the whole thing out longer than need be.
Ask Yourself These Questions
Here are a few questions you can ask yourself to indicate what your next move should be to avoid total financial disaster:
- Are you in the red each month?
- Is it almost impossible just to make the minimum monthly credit card payments?
- Have you sacrificed essential items just to have the money to pay monthly credit card payments?
- Are bill collectors calling?
- Have you eliminated all the “extras” like entertainment, clothing, etc., but still can’t make ends meet?
Answering yes to any of these questions is a good indicator that you should speak to a bankruptcy attorney about your options. An attorney can look at the specifics of your situation and help you work to reduce or eliminate the debts that weigh you down through the bankruptcy process.
You can help regain control over your life by taking an honest look at where you stand, making actionable steps to right your situation, and then setting out on a path of a healthier financial future.
Warren & Migliaccio Can Help
Bankruptcy attorneys at Warren & Migliaccio are here to help. We can see what options work best for your given situation and help you file for bankruptcy if that’s your best option. Contact us for a free, no-obligation consultation – (888) 584-9614.