Are you finding that it is harder to make ends meet? Or, is there too much month left at the end of your money? If so, now may be a good idea to consider filing for bankruptcy.
Get to Know the Reason You Are Struggling Financially
You may have lost your job, aren’t able to find another one, or there could be someone in your family with a medical condition that insurance doesn’t cover. You may have filed for divorce and still have the same bills with just a single income. You may also be dealing with a sudden or unexpected repair, which means you can’t pay your rent.
Usually, there is a reason you are in debt. Getting to know the reason you are having financial issues will help you determine if bankruptcy in Michigan is the right course of action.
You Have Spent All Your Savings
If you have already spent all your savings on household expenses or bills, this is a good sign you are dealing with money problems. This is especially the case if you did this rather than putting your kids through college or saving for the future.
You Use Your Credit Cards More Than Usual
Have you begun to use your credit card each day for regular items like groceries or gas? If you have turned to credit, rather than your debit card or cash, it’s a sign that you should file for bankruptcy.
Using Loans to Repay Your Bills
Have you taken out payday loans or asked family and friends for money? Taking out loans to pay bills is just digging your debt hole digger. This is a cycle that is going to continue until you take steps to stop it, which may include filing for bankruptcy.
You Avoid Opening Your Mail
Have you found you dread going to the mailbox each day? Do stacks of mail sit around for days, unopened? If so, this is another sign that you need to consider bankruptcy.
More and Higher Bills
Are your bills growing? Do you continue wondering how you will pay them? Or do you try to figure out which ones you can skip for the month? This is not only stressful, but there are also some options to consider, including bankruptcy.
Creditors Are Pursuing You
Do you avoid answering your phone at home, work, and even your cellphone because you are worried about who is on the other end? Are you tired of getting threatening calls about the money you owe? If so, it is time to consider filing for bankruptcy. At this point, it is a good idea to speak with an attorney to keep the creditors from calling and harassing you.
When it comes to filing for bankruptcy, there are more than a few factors to consider. Hiring an attorney is a smart move, as they can provide advice and guidance regarding the options you have. Being informed and knowing when to call for help will reduce the likelihood of continuing to struggle financially.