Sometimes debtors just need to face the facts when it comes to throwing
in the towel on their finances. You may have been trying to make payments
or find ways to make your money stretch in an effort to avoid filing because
of silly misconceptions about why you should avoid it. It is possible
you could be in further financial danger than you thought, especially
if you've just recently began accessing your situation in deeper detail.
There are a few questions you may be asking yourself in relation to
bankruptcy that now may be a good time to consider getting answers from an experienced
bankruptcy expert. Then, there are questions you should answer while accessing
your finances to help you determine the best course of action to regain
financial control and when to file for bankruptcy.
In reviewing your finances you may want to think about answers to the following:
Can you continue making minimum payments on credit card balances? Are credit
cards being used to cover daily living expenses and necessities?
Do bill collectors keep contacting you? Have you been avoiding their collection attempts?
Do you feel like you have lost control of your finances?
Do you worry about how you will make payments each month?
Do you know how much debt you really owe?
Bankruptcy may be something you are considering if you have thought about
debt consolidation, or feel it is the last option after trying to reach
an agreement with creditors on your own with no agreement reached.