Bankruptcy & Foreclosures

Signs, signs, everywhere a sign. No this blog hasn’t suddenly become a music tribute… A question we encounter time and time again with clients in financial ruin is “how did I let it get to this?”

The answer of course is they failed to pay attention to the signs along the way. Financial implosions are very rarely an overnight affair but rather a long series of mistakes that simply continue to compound over time. In a recent article by Tom Fragalia, the eight signs of impending doom are made clear.

Tom says that the eight signs you are on unstable ground are as follows:

You pay only the minimum payment due on credit cards.

You are near your credit limit.

You have taken out a cash advance from one credit card to make a payment on another card.

Creditors call you about payments.

You have no idea the total of your debt.

You have had more than one check returned recently for insufficient funds.

You don’t want to open your mail because you feel overwhelmed.

Your debts make your home life unhappy.

The good news is when you catch it early enough, you have time to turn your situation around. If more than one warning signs applies, now is the time to take control of your finances before they spiral out of control. For help, contact a credit counselor in your area or try your company’s employee assistance program (EAP).

The entire article can be viewed by clicking here.