If this describes your existence, you are likely desperate to flee. If so, you should be familiar with the bankruptcy options available to you. Many individuals believe that bankruptcy is not an option for them. We've heard this countless times: ""Oh, that's not for me. I'm not in terrible condition."" It requires courage to recognize the warning signals of bankruptcy. Do you recognize the warning signals?
The Early Warning Signs of Insolvency
Your debt has increased despite your diligent efforts to pay it off for over a year. If you have been working diligently to pay off your debt, but the results have not materialized, it may be time to acknowledge that something beyond your control is preventing you from achieving financial independence. You shouldn't have to spend the rest of your existence battling debt. After a valiant effort, it is time to cease making loan payments and file for bankruptcy.
The interest rate on your loans consumes a greater portion of your funds than the principal balance. If you spend more on interest rates to cover all of your loans than you can afford to spend on your debts, you have a serious problem. Filing for bankruptcy can eliminate both interest and principal!
You cannot slumber or enjoy yourself because you are constantly concerned about your debt. If your life has become unbearable because you're constantly concerned about how to pay off your debts, it's time to start looking into bankruptcy seriously.
The bankruptcy procedure is available to those who are experiencing extreme financial hardship. If you're struggling with these three warning signs (though there are many more! ), you're likely confronting more difficulties than a """"typical"""" debtor ever should.
Insolvency is not something to be dreaded. It was designed to assist people during difficult times, so borrowing when you are already in debt is not the solution you seek. Gain a clean slate and regain financial control by modifying your spending habits and taking advantage of the assistance bankruptcy can provide.""
" - https://www.affordablecebu.com/
