If you have discovered that you are struggling month after month just to pay all your bills, then it is likely time to consider filing bankruptcy. While finding out more about the Philadelphia chapter 7 bankruptcy process is important, you also need to make sure this is the right solution for you. Some tips that will help you make this all-important decision can be found here.
You Have Spent All Your Savings
If you have gone through all your savings to cover monthly bills, or reoccurring household expenses, then it is a definite sign that it is time to think about bankruptcy. You need to be able to save money for your children’s college or to secure your future, financially. If you have to spend your savings on this over and over, then you will never get your head above water.
You Have to Use Your Credit Cards More Often
It is great to have credit cards to use for one-off purchases, or for emergency situations. However, if you are using these cards for groceries, gas or other day to day expenses, then you should consider learning more about the Philadelphia chapter 7 bankruptcy process. This will help you figure out if filing for bankruptcy could help you get out of the financial trouble you are in.
Keep in mind, filing for bankruptcy is not the right solution for everyone. In some cases, consulting with an attorney can help you learn more about the Philadelphia chapter 7 bankruptcy process and determine if this is something you should move forward and do.
Find out more about filing bankruptcy by visiting The Law Offices of David M. Offen website.