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Five Signs You Need Bankruptcy Relief

If you are in financial trouble you need to know there are things you can do to ease the burden. You can refinance your home, take out the equity in your house to pay off high rate credit cards, consolidate debt to a lower overall monthly payment, or file for bankruptcy. The option you pick needs to give you immediate and long term relief, so you can not only get out of debt but stay out of debt. Achieving this goal takes some planning, and it also requires you to notice the signs along the way that will help you determine what type of relief is best for your situation.

Five signs bankruptcy is the type of relief you need include:

• You are consistently behind on one or more of your monthly obligations.
• You have been sued for a past due debt, had your car repossessed, or have received notice that your house is going into foreclosure.
• You have to borrow money to pay monthly bills.
• Everyday purchases, such as gas and groceries, are made with a credit card rather than with cash or on a debit card transaction.
• You cannot pay off your credit card balances monthly, or even in a few months’ time or your credit cards have all reached their maximum credit limit.

If one or more of these apply to you, it might be time to file for bankruptcy. If you ignore the signs you will only end up in more financial distress, and could even lose some of your assets if you do not act fast. Filing bankruptcy allows you to eliminate debt, or at least pay back only a portion of the full balances due. When you do this, you free up your income to put towards the things you absolutely have to have to live, like your house or car payment. In many instances those that file for bankruptcy are also able to put aside some money for savings or an emergency fund, and can thus avoid the need to refile a bankruptcy case down the road. Let us help you get back on your financial feet, call today to talk to us about whether bankruptcy is right for you.

For help with your questions about finances and how to get out of debt, contact us at www.DsouzaLegalGroup.com. We will help by coming up with solutions that help get you back on your feet.

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