When you file for bankruptcy, you are taking control of unmanageable debt and laying the groundwork for a stronger, healthier financial future. But the decision to file is a major one and should not be entered into lightly; it will impact your financial situation for years to come. You want to be absolutely certain that bankruptcy is the most sensible solution for your financial challenges. Here are a few signs that bankruptcy may be the best option to pursue.

How to Tell if You Should File Bankruptcy

1. You Can't Pay Your Monthly Bills

Missing payments on monthly bills has a snowball effect, quickly adding up and leaving you with bigger and even more impossible balances to pay. If your income cannot sufficiently cover your month-to-month costs, bankruptcy offers a way to get caught up and start fresh.

2. Creditors & Collection Agencies Are Harassing You

Creditors and collection agencies will hound debtors relentlessly until they get what they are owed. They might call, send registered letters, or even sue for outstanding balances. Once a person files for bankruptcy, all collection action against them is legally required to stop.

3. You've Drained Your Savings

Despite one's best intentions, the demands of bills can quickly drain a nest egg. If you've spent savings trying to pay off existing balances, bankruptcy can ensure you don't lose any more money in an attempt to play catch-up.

4. You're Losing Sleep Because of Financial Stress

Financial issues are overwhelming for a lot of people, but when these stresses are interfering with one's ability to function in daily life, it's time to consider bankruptcy. If you're losing sleep, losing your appetite, or becoming depressed, anxious, or physically ill over financial worries, meet with a bankruptcy attorney. While money woes are concerning, they should never reach a point where they jeopardize a person's health and well-being.

If you see yourself in any of the above scenarios, contact Harry B. Zornow. For over 30 years, he has been providing bankruptcy representation to the Butler County, OH, area. He will help you explore Chapter 7 and 13 bankruptcies and start you on the path to debt relief. Attorney Zornow also offers legal guidance in Social Security and probate cases. Call (513) 737-9770 or visit his website to schedule a free consultation.