If you can relate to the following signs, it may be time to start considering filing for bankruptcy. To discover the most common signs to be aware of when it comes to needing to file for bankruptcy, continue reading and reach out to our experienced bankruptcy attorney to learn how we can assist you in taking the plunge.
What are the signs I may need to file for bankruptcy?
- You have been denied additional credit
- You have begun pawning your belongings
- Your checks are bouncing
- You are receiving collection calls from creditors
- You are spending more than 20 percent of your net income on credit card bills
- You are hiding purchases from loved ones
- You do not have enough cash to pay for necessities like groceries. You are using credit cards to pay for necessities.
- You are hiding credit card statements
- You are using savings or even retirement accounts to pay monthly bills
- Your bills are overdue
- Your credit card has been declined
- You need a co-signer to get a loan
- You heavily depend on family and friends financially
- You are more concerned with monthly payments than the total cost of a larger purchase like a car
- For a lower monthly payment, you are financing or leasing a car for six or more years
- You have more than two major credit cards
- You are living paycheck to paycheck
- You view making minimum payments as normal
- You are unsure what you owe on all of your debts
- You are being charged a high-interest rate when you borrow money
What benefits come from recognizing these signs?
It may be a bit overwhelming when you start to recognize that your behaviors are signs to file for bankruptcy. However, recognizing these signs has its benefits. These warning signs are a great place to start. Filing for bankruptcy is a huge decision that should not be rushed or taken lightly. If you believe it might be time for you to begin this process, do not hesitate to reach out to our firm to learn how we can help. Our legal team will discuss your options with you to discover the best route to take for your specific financial situation. Our firm can fully assess your situation in order to make the best recommendation for your future. To get started today, pick up the phone and give our firm a call to schedule your initial consultation with our team.
Contact our experienced New York firm
Bankruptcy, for many people, is a frightening endeavor. Fortunately, with the help of an experienced attorney, it does not have to be. If you require the services of an experienced Business Law or Bankruptcy attorney, contact the Law Offices of Allen A. Kolber, Esq. today to schedule a consultation and discuss your options. We will have your back every step of the way.