Bankruptcy Attorney Sacramento serving Rocklin Lists the Top 6 Signs That You May Need to Consider a Chapter 7 or Chapter 13 Bankruptcy
Ever notice how debt problems seem to build up slowly? Unless you have a lot of disposable income (money to spend after paying expenses), your debt can go from “smaller than a molehill” to “a mountain of insurmountable debts.” This is often true if you lose a job or have unexpected medical needs and your financial picture changes. Suddenly you’re considering whether a Chapter 7 or Chapter 13 bankruptcy is the right solution for you.
Here are six warning signs that your debt is getting out of control and is about to become dangerous debt.
- You find that in most months, you are not able to make even the minimum payments on your credit cards and other loans. This sign of financial stress should not be casually ignored.
- You are starting to pile up late payment fees and over-limit fees on your credit cards.
- After doing a complete and honest look at your monthly bills and income, you realize that more often than not you spend more than you earn
- You find yourself trying to use one credit card to pay off the bill on another card, or you see yourself trying to decide which of your monthly bills you can skip paying this month without getting into trouble. Saving money for future needs is no longer even a consideration; your total focus each month is strictly on juggling current bills.
- You find yourself seriously considering taking on another job or other ways to earn money and get out of the hole you feel you’re in. Money is frequently on your mind and may disturb your sleep or keep you from fully participating in activities you enjoy.
- You have been wondering what personal bankruptcy is really like and start doing research to determine facts versus myths. If you have been thinking that your debt crisis won’t go away without help — then filing for bankruptcy may be the way to end those money nightmares and make a fresh start.
Hiring a bankruptcy attorney can help you best use the provisions under a Chapter 7 or Chapter 13 bankruptcy to achieve your financial goals. Please contact our Sacramento office at 916-313-9069 or via email at info@california-bankruptcyattorney.com.
