At Behm Law Group, LTD, we see people from all different walks of life, and generally they have one thing in common—they’re desperate. Declaring bankruptcy is the last thing most people want to do; however, many feel that they have no choice. Perhaps you’re feeling financially stressed, maybe even desperate. Do you need to file for bankruptcy? Here are some symptoms that many people in financial distress experience and which may indicate that bankruptcy may be an appropriate option.
You’re making minimum payments on your credit cards
When you have no choice but to make minimum payments on your cards, you’re in financial trouble. The big credit card companies have structured their payments so that if you repeatedly make the minimum payment, you will never pay-off your debt. If you’re making minimum payments month after month, you’re digging a deep financial hole that only gets deeper and increasingly more impossible to escape from.
You have to borrow money to pay for basics
When your monthly financial obligations consume so much of your income that you have to borrow money to eat, you are in financial trouble. Do you need to put your utility or grocery bill on your charge card just to make ends meet? Have you maxed-out most of your credit cards and struggle to find money to buy even simple basic necessities? If this is your case, you probably never will be able to pay off your debts.
You have cut everything you can and still can’t make ends meet
You’ve tried to be as proactive as possible by cutting expenses and canceling services that other people take for granted. You dropped your cell phone service, you’ve cancelled your cable or satellite TV, you don’t have internet, and you shop for groceries only when money allows you to. Unfortunately, even though you’ve cut everything possible, your financial obligations and credit card payments are such that you still can’t get ahead. And to make matters worse, with each month that goes by, even though you’re making payments, the amount you owe is growing with each passing day.
Are you Desperate?
Declaring bankruptcy is not a financial solution to be taken lightly. However, for some people, it is the only solution. At Behm Law Group we understand the anxiety and frustration folks caught in this situation are feeling. If you are desperate and feel totally overwhelmed by mounting debt and endless calls and letters from debt collectors, call the Behm Law Group LTD and let us help you find an equitable resolution to your financial situation.