Bankruptcy Warning Signs

Bankruptcy is something we all want to avoid. However, sometimes this is simply not possible. If you are drowning in debt and struggling to keep afloat every month, then it might be a good idea to look through this checklist to determine if filing for bankruptcy is your best option.

Signs of Bankruptcy

It is important to be aware of the warning signs of bankruptcy to better prepare yourself and your family if the time comes to file. If you answer yes to one or more of the warning signs listed below, it’s a good idea to contact a Minneapolis bankruptcy attorney to discuss your options and your financial situation in depth. Your best chance to avoid bankruptcy is to seek legal advice sooner, rather than later.

• Have you fallen behind on some of your credit card payments? If so, you are not alone. The average credit card debt across America is nearly $10,000! However, if you are struggling to make even the minimum payments each month, it might be time to ask for help
• Do you find yourself paying off one credit card debt with another credit card? Are you living on borrowed money?
• Have some of your credit cards been maxed out?
• Are you paying more interest than you want on your credit cards? Are you finding it impossible to pay any of your credit card debt off because of the rising interest?
• Are you having trouble keeping up on your home or car payments? This could end up costing you more than a rise in interest rates.
• After you have paid your normal monthly living expenses, do you have enough left over to get caught up or ahead on overdue bills?
• Are you having trouble making a deal with your creditors?
• Are you being harassed by creditors at home and at the office?
• Have you succumb to wage garnishment?
• Do you find that you need to borrow money from a ‘pay day’ loan company or resort to pawn shops and cash converter stores in order to make it through the week?
  • Are you unable to save any money at the end of each month?
  • Are you worried about the lack of money saved for your retirement or 401(k) plan?
  • Do you find that you and your spouse are constantly fighting about financial matters? Is this problem breaking up your marriage and threatening to split up your family? Then you are not alone. There are ways to stop the fighting and work together out of debt.
  • Are you constantly stressed out due to your financial situation?
  • Are you having a hard time sleeping at night and concentrating during the day due to this looming debt?

Minneapolis Bankruptcy Attorney

Myles A. Schneider & Associates, Ltd. can help you out of this financial mess. With over 60 years experience between them, the team at Myles A. Schneider & Associates, Ltd. offers affordable rates, compassionate and confidential service and qualified legal support when you need it most.

Legal Advice 24/7

We represent bankruptcy clients in matters involving Chapter 7 bankruptcy, Chapter 13 bankruptcy, wage garnishment, creditor harassment, foreclosures and debt consolidation. Contact Myles A. Schneider & Associates, Ltd. 24 hours a day, seven days to week at 763-315-1100 to see how we can help you.