If you are struggling with debt and looking for relief, bankruptcy is a powerful tool designed to help you get a fresh start with your finances. Filing for bankruptcy can immediately end creditor harassment and other actions such as foreclosure, wage garnishment, and repossession.

At Lynch Law, LLC., our Naperville bankruptcy lawyers can help you solve your debt problems by guiding you through the bankruptcy process. Our attorneys have decades of combined experience handling bankruptcies for clients throughout the region.

Financial Warning Signs to Lookout For

Every year, hundreds of thousands of families in the U.S. struggle to make ends meet. Unfortunately, many people do not consider bankruptcy as a viable solution for debt relief. Bankruptcy is a helpful - and sometimes crucial - option for many people struggling with overwhelming debt.

You may want to reassess your financial situation and consider bankruptcy if:

• You are unable to make routine minimum payments required for credit cards and loans. This is a sign that you are in severe financial distress; don't ignore this as it becomes a regular concern.
• You have been spending much more than you earn regularly. This means that you have been accumulating debt each month. Each month the debt gains interest, making the debt more expensive as you add on to it.
• You are over your limit or at the limit on your credit cards. To maintain a healthy financial situation, it is important to remain under 30% of the credit limit on your credit cards and loans. If you are teetering at the limit and unable to pay down the debt, this can lead to trouble.
• You are unable to pay each bill every month. You might be in trouble if you skip bills for one to two months at a time and are facing regular notices for collection.
• You are not making enough money. Are you making enough money to cover your expenses each month while contributing to a savings account or an emergency fund? If not, you may be on your way to financial distress and bankruptcy.
• You receive countless phone calls from credit agencies seeking payment for bills. When creditors are calling, it can be detrimental to the credit report as collections are the worst thing that your credit report can face. If you are unable to afford these payments, then it may be time to consider bankruptcy.
• You are afraid to speak to your partner about money issues or avoid the topics altogether. This can be a sign of financial disarray and should not be ignored.
• You have no idea about all the accounts on your credit report. You are unsure about which debts are paid or even how much you owe to creditors.

You have thought about bankruptcy or were considering filing with a bankruptcy attorney. When you have had these thoughts, chances are that meeting with a bankruptcy attorney is the next logical step to, at the very least, find out about your options.