Is bankruptcy right for me?
We absolutely don't mean to be coy or self-serving; however, you really only can get the answer to this question from a bankruptcy attorney.
However, what we can do is provide warning signs that bankruptcy is imminent and should be considered promptly:
- You feel overwhelmed and can't sleep at night because of debt stress. That same stress is causing marital and family discord, health problems, or challenges at work.
- Your debt from credit cards, personal loans, and medical bills is equal to or greater than your annual income.
- You can only pay the minimums on your credit cards.
- Creditors are sending letters, calling you, and/or filing lawsuits to collect on your debt.
- Your wages or bank accounts have been garnished.
- You can't pay your regular monthly bills or you hesitate before spending money for quality food or medical care.
- You are thinking of tapping into your retirement accounts or home equity to pay off your debts.
- You've borrowed money from family or friends.
- Your car has been repossessed or your mortgage lender is threatening foreclosure.
- Your credit cards are maxed out.