Financial Warning Signs: Should You Consider Bankruptcy?
If you are in financial trouble, you are not alone. Every year over a million Americans put their problems behind them by filing bankruptcy. At the Law Offices of Stuart B. Handelman we have helped thousands of people just like you find the legal solutions they needed to put their finances and their lives back on track.
Please take a moment to answer the questions below. This quiz is designed to determine whether or not you should seek the advice of a Debt Management / Bankruptcy professional. It is important that you answer each question openly and honestly.
- Are any of your credit accounts more than 30 days late?
- Do you pay only the minimum payment due on your credit cards a majority of the time?
- Do you float or bounce checks in order to put food on your table or pay monthly expenses such as electric or gas?
- Have you borrowed money from a loan to payday or vehicle title loan source?
- Do bill collectors call you at home or work?
- Do you have multiple mortgages on your house?
- Have you reached the credit limit on one or more of your credit cards?
- Have you borrowed money to pay off your credit cards (including balance transfers) and accrued significant balances again?
- Do you lose sleep at night because you worry how you are going to pay your bills?
- Do you live from paycheck to paycheck with no source of funds for unexpected obligations?
- Have you borrowed money from friends and/or relatives to meet obligations?
- Do you pick and choose which accounts to pay because you can’t afford to pay all of your obligations?
- Has your credit line been stopped by one or more creditors?
- Is your house in jeopardy of foreclosure?
- Has your house been foreclosed or your car repossessed leaving you with a balance due on the property that you no longer own?
- Do you stress over your finances?
- Are you afraid or hesitant to answer your telephone because you don’t want to be abused or belittled by a representative attempting to collect money from you?
- Do you write checks hoping they don’t clear your bank before your paycheck gets deposited?
- Do you make excuses to yourself or those around you as to why you can’t pay your bills?
In your consultation we will explain the different types of bankruptcies, procedures for filing and the advantages and disadvantages involved so that you know what to expect. We will review your debt history and status, income-to-debt ratio, monthly expenses and whether or not you have ever filed bankruptcy before. We may be able to present you with bankruptcy advice alternatives such as loan consolidation, mortgage refinancing options, civil suit defense or refer you to a credit counseling organization. At the conclusion of the consultation, we will review the attorney’s fees and court costs associated with each of the options presented to you as well as discuss a payment arrangement, if necessary.