When someone is struggling with serious financial problems, bankruptcy might still be one of the last options they ever consider, even when there are many signs that would suggest they should apply for bankruptcy. Thousands of Americans decide to file for bankruptcy every year because they can recognize their own signs that they need help. Here are some warning signs that bankruptcy might be the right decision for you:
You dread going to the mailbox
For many people, going to the mailbox means picking up junk mail and throwing it away while looking at some new coupons. Suppose you have a different experience, and dread going to the mailbox and opening another bill you cannot afford to pay. In that case, it might be time to consider an alternative method of overcoming your debt.
You have run out of your savings
If your “rainy-day fund” has become an “everyday fund,” you may have noticed that your savings account is nearly empty or already empty. Running out of backup funds is a classic sign that your financial hardship has become too big to manage on your own. Thankfully, there are options to overcome these hardships.
You are behind on your bills
Credit card bills, utility bills, cell phone bills, car payments and home payments never miss an appointment to arrive at your doorstep, whether or not you can actually pay them. If you are weeks or months behind on your bills and still believe that you are on top of things, you may be in denial about the reality of the situation.
Creditors are harassing you
When bills go unpaid for too long, creditors begin taking steps to collect the money you owe them. If creditors begin calling you at all hours of the day, calling you at work, or even coming to your home, it may be because they do not expect you to pay the money back on your own. You may be able to sue them if they are breaking the laws in their pursuit of collecting a debt.
You can put a stop to the stress and worry
Bankruptcy often allows filers to take back control over their finances and their debt while also putting a stop to stressful trips to the mailbox and harassing creditors. Consult with an attorney today to discuss how bankruptcy can help you gain the financial freedom you deserve.