Bankruptcy Warning Signs

Did you know that each year, the number of consumer bankruptcies filed in the United States has increased.  This fact is especially true in large cities, like San Antonio.  In 2009, approximately two million people filed for Chapter 7 and Chapter 13, which means that debt is a serious problem for many Americans.

People often ask "are there signs that I am headed for bankruptcy?"  While there are no fool-proof signs, people may find that they are headed toward bankruptcy if:

§  They have problems sticking to a budget or have not created a budget

§  Lack control over their spending or are chronic over spenders

§  They have not established an emergency fund

§  They have a house that is expensive and they are finding it difficult to pay their mortgage

§  They have excessive credit card debt and continue to add to that debt

Finally, it is important to know that many people who have to file for bankruptcy do so because of unexpected life circumstances, such as a serious illness in the family or unexpected job loss.

If you are thinking about filing for bankruptcy in San Antonio, it is advised that you meet with a San Antonio bankruptcy attorney as soon as possible.  Contact the Malaise Law Firm now!