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  1. 1. Life would certainly be easier if there were acertain amount of debt or amount of time spent in debt that signaled to us to file bankruptcy. Unfortunately, there isnt. The decision to file bankruptcy comes from you.
  2. 2. There are requirements for debt when it comes to Chapter 13, but they mostlyconcern upper limits To be eligible to file a Missouri or Illinois Chapter 13, yourunsecured debts must be less than $336,900 and your secured debts must beless than $1,010,650 So, if there is no stead fast rule on when to file, how doyou know when to call a bankruptcy attorney? Ask yourself: "Am I facing ahardship right now?" If your financial situation is crushing you and your family,it is a good idea to look at options for relief Does that mean that you have tofile bankruptcy anytime you feel uncomfortable? No
  3. 3. Nonetheless, educating yourself on bankruptcy is a great idea Though itseems simple, the question I asked in the previous paragraph can be hard toanswer While there isnt an amount or period of time that tells you to filebankruptcy, there are some warning signs that you are getting in over yourhead with debt Some of the warning signs include a wage garnishment, threatof repossession, need for protection from foreclosure, or harassing creditorcalls
  4. 4. If your debt has gone this far, chances are that you need asolution—and quickly Even if you arent at the end of your financialrope, you may benefit from being proactive Will my financial situation improveby itself? Is your debt a temporary problem? If you responded "no," you maynot be far from a foreclosure or repossession You dont have to wait for thesethings to happen before you decide to call a bankruptcy attorney
  5. 5. In fact, the best way to stop these things from ever occurring is to educateyourself with free material from great attorneys in the area Dont forget, yoursituation wont change if you dont do anything about it If you arent surewhether you want to file bankruptcy, you arent alone
  6. 6. Luckily, there is free information from great attorneys that can bring you someclarity You should feel comfortable and knowledgeable before you even stepfoot into an office The power to improve your life is in your hands