Should You File For Bankruptcy?
Questions to Ask Yourself
Bankruptcy is an option that you may be facing. If you have an unmanageable amount of debt, you may feel like you have no other options. However, that may not be the case. There are always options, depending on your situation.
So, unsure if it is time to file for bankruptcy? Here are some questions that you may want to ask yourself?
Do I use credit cards to pay for groceries and other necessities? If you are struggling to put food on the table and gas in your car, and you find yourself reaching for your credit card to pay for these things, you may have a problem with your debt.
Can I only afford the minimum payments on my credit cards? Credit cards can be helpful, but they can also lead to disaster. With their high-interest rate, you may not be able to get your balance under control if you are only able to pay the minimum amount every month. Instead, you may watch it continue to grow every month, even as you work on paying it off.
Am I getting calls from bill collectors? If you find yourself avoiding your phone due to the amount of bill collectors that call, you may have to consider that you have too much debt.
Have I considered (or even thought about) consolidating my debt? Debt consolidation may be a valid choice…
