Signs when you should really be talking to a bankruptcy attorney and not to your physician?

As usual we are posting the symptoms if you really need a bankruptcy. In Las Vegas, most of the bankruptcy attorneys are using the scare tactics of filing bankruptcy if your home is under water. That factor alone should not make you decide to file bankruptcy. As we know based on our experience, lenders are desisting the practice of filing for deficiency judgment if your home was secured for primary residential reasons and is secured by a principal mortgage and basically you and your family lived there and used it as a primary residence. As usual the first step should not be denial or a blanket denial, as we see most of the times. It should be recognizing the problem.

Diagnosing is the basis of this problem. Denial is abdication from responsibilities. If you have a mountain of debts, and you just do not open the bank or credit card statements. You are denying this responsibility. Still worries about your debt loan and other delinquencies are awaking you all night—— you need to see not a doctor but a bankruptcy attorney. The first step in overcoming a debt problem is recognizing it—rather the whole of the problem instead of only thinking the piecemeal issues. It is time to stop your endless trips to the malls, travel plans to foreign countries, your honeymoon is over and you quickly need to see a bankruptcy specialist attorney. Let us analyze, if you are having the following symptoms and needs to see a bankruptcy attorney.

1. You routinely spend more than you earn. Are you spending more money than you should, or spending more money then you earn.

Yes or No.

2. You still making only the minimum payment required on your credit cards and yet think that you would catch up ultimately and via some magic. Do you live in a fantasy land? Ask yourself, how?

Yes or No.

3. The credit card companies have reduced your spending limit as your credit cards are maxed out.

Yes, or No.

4. Can you recall remember how much you owe to your credit cards companies? It is of course a memory test. You can’t just be short of memory. Just think how many credit cards you have? When was the last time you spend them? Remember the store, the buy, the good time?

Yes, or No.

5. Are you using transfer of balance from one credit card to another one and skipping the payments from one to another and getting some cash advances during this process.

Yes, or No.

6. More appropriately, you are continuously skipping payments on some bills in order to pay others, or use cash advances on one credit card to pay off another.

Yes, or No.

7. Is there a continuous issue in your matrimonial life on bills, payments, and spending? Does this argument get louder every day? Does both of you used go to shopping together and now prefer to go alone. Who picks up the mail now? Only one spouse or both alternately? This is important as one spouse may hide bills, or extra spending. Again, is there an open communications between spouses on bills, spending, and general expenditure? Are you afraid to talk to your spouse?

Yes, or No.

8. Did you check your credit card report (see if you qualify for a free credit report) and found mistakes in it, or just don’t know where and when the last transaction taken place was?

Yes, or No.

9. Do you have any surplus balance for any unexpected emergencies like medical needs or a breakdown in car, or home maintenance issues? How many bank accounts you have? Do you have a HELOC account?

Yes, or No.

10. Are you underwater on your home? Yes, or No.

11. Is your phone ringing nonstop and creditors are calling nonstop early morning and late evening?

Yes, or No.

12. You are thinking of filing bankruptcy but just not finding enough courage to seek bankruptcy help? Yes, or No. If you have at least 3–6 No’s, you should immediately see a bankruptcy attorney.

Treatment: You need to see a knowledgeable bankruptcy attorney. It is nothing to be embarassed. Bankruptcy is your federal right and in the past many famous people had exercised their rights.

1 Comment

  1. I agree that not admitting to the problem and then not dealing with it early is an issue. However, most people still feel embarrased about admitting to it. There are now some great services available to help people get on top of debt before the only option is bankruptcy.

    Thanks for the article!

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