How do I know if I need to file bankruptcy?

A Checklist of 33 Indicators That You Should See a Bankruptcy Attorney


Here are 33 warning signs that you might need to file a Chapter 7 Bankruptcy or Chapter 13 debt reorganization plan to control creditors or eliminate your debts. If one or more apply, you should see a bankruptcy attorney as soon as possible before things get worse. What may be able to be fixed early on, perhaps even without filing bankruptcy, will only get worse and harder to fix later.

Don’t do anything before you see and discuss your situation with a bankruptcy attorney. You can easily make mistakes that can harm you or those you care about. Sometimes, what you and most people may think is reasonable to do is exactly opposite of what the bankruptcy laws allow.

List of Indicators That You Should See a Bankruptcy Attorney


/__/ 1. You cannot pay your bills on time.


/__/ 2. Some of your bills are stamped “overdue.”

/__/ 3. You are going or about to go to a “payday lender” to get an advance on your paycheck.

/__/ 4. You have looked into or have borrowed from those high interest rate personal lenders like “Cash Call or Loan Me.”

/__/ 5. You are counting on a future windfall of money to get you out of financial problems. That would include waiting for a relative to die or that new job or business that is going to make you a pile of money.

/__/ 6. You are using money from credit cards to pay living

/__/ 7. You are maxed out on your credit cards.

/__/ 8. You are paying the minimum payment on your credit cards because you don’t have enough money to pay down the debt.

/__/ 9. You are gambling or buying lottery tickets and hoping you will win the money to pay your bills.

/__/ 10. You and your spouse (or significant other) are fighting over finances.

/__/ 11. Your finances are hurting your marriage or relationship to the point of considering separation or divorce 

/__/ 12. You have incurred 2 or more overdraft fees or late charges in the last 12 months.

/__/ 13. You are using the money from one card to pay another credit card.

/__/ 14. You are considering or have borrowed money on your things from a pawn shop.

/__/ 15. Your credit/debit card or check is declined when you go to use it.

/__/ 16. You cannot set aside any money for savings.

/__/ 17. You are taking money out of savings.broken piggy indicator that you need to see a bankruptcy attorney

/__/ 18. You have or are considering borrowing against or cashing out your retirement (401(k), IRA, TSP, 403(b)

/__/ 19. You are considering or you have borrowed money against your home to pay bills.

/__/ 20. You have considered or have borrowed money from an “auto pawn” or a “title loan” lender.

/__/ 21. You are considering or have signed up with some form of so-called “debt consolidation program.”

/__/ 22. You are considering borrowing money from friends or relatives.

/__/ 23. You are considering having or have done a “yard sale” to pay your bills.IRS shaking man

/__/ 24. You owe taxes you cannot pay.

/__/ 25. You or your spouse (or significant other) are working more than 40 hour work weeks or considering getting a second job just to make ends meet.

/__/ 26. You want to “run off” so your creditors can’t find you.

canstockphoto22782200 Cave Man

/__/ 27. You have a student loan that is due or coming due soon and you cannot make the payments or are behind on payments.

/__/ 28. You are depressed over your debts or you have considered committing suicide.

/__/ 29. Your debts are ruining your life.

/__/ 30. You are getting harassing letters and phone calls from creditors.

/__/ 31. You are behind on your mortgage or rent payments or in foreclosure.

/__/ 32. You are about to be or have been sued.

/__/ 33. If you are still reading this, you need to immediately call a bankruptcy attorney in your area to help you learn what options you have.

 Don’t Ignore Indicators That You Need To See a Bankruptcy Attorney

This is far from a complete list of indicators. If you are stressed about paying your bills and not sure what to do, the answer is simple. Get the best information possible about all your rights, both bankruptcy and non-bankruptcy so you can make the best decision you can about what will work for you.

Don’t be afraid to see a bankruptcy attorney. The only individuals or businesses that need to be afraid are your creditors.

There is a saying “Knowledge is power.” Isn’t it time you got your power back?

If you live in Northern or Central California, you can go to to find out whether you are in a county served by Mr. Fraley. To schedule your free bankruptcy attorney consultation with Fraley & Fraley, Sacramento Bankruptcy Attorneys call (916) 485-5444 and talk to his friendly staff.

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