Considering Bankruptcy? Take this quiz. Only five questions.

Answer five little questions. You will know in a few minutes if you should be thinking about personal bankruptcy.

By Leon Bayer
Published: Mar 10, 2014 10:09 PM GMT / 
Updated: Mar 10, 2014 10:09 PM GMT

Are you trying to decide on bankruptcy?

Putting things into focus will be a big help. You have to acknowledge a problem before you can fix it. This may help you see what haven’t been willing to admit.

TAKE THIS FIVE QUESTION TEST.

IT MAY BE AN EYE OPENER. HAVING TROUBLE DECIDING ON BANKRUPTCY? THIS TEST CAN HELP.

SEE HOW MUCH TROUBLE YOU’RE REALLY IN.

If you need a car repair, would you have to use credit to pay for it?

“Yes” to this question means you have insufficient cash reserves. You’ve got nothing to fall back on. You have no means to deal with a major expense on your own. Credit use has become a necessity instead of a convenience. You can’t seem to get through life without going further into debt.

Has a bill collector called or written you within the past 60 days?

Inability to meet your bills is a sure sign that you should be seeking a way out of debt. Debt collectors become relentless. Like a pack of sharks. They put enormous psychological pressure on a person. If that doesn’t work, they may sue and get a court judgment against you. After that, there can be asset seizures. Wage garnishment. Frozen bank accounts. Judgment liens on your home.

Have you been turned down for credit in the past 12 months?

People in deep debt often get turned down for new credit. The shock of a turn down is often the first wake up call. Even when you are still paying all your bills on time, you can be turned down. Banks know when a person is over extended. Sometimes we need to hear it from a bank before we can see it for ourselves.

Do you fight with your spouse about about money?

Money fights are responcibile for more divorces than any other cause. Being worried about money leads to fighting with your spouse over how it should be spent. Money worries cause anxiety, and tension in a relationship. We have saved many, many marraiges and relationships by helping people deciding on bankruptcy.

Have your credit cards been reducing your available credit?

Your banks are trying to tell you something. Listen to them. You already owe too much. money. They expect you to default, and they don’t want you getting deeper into them.

It's time for professional advice if you answered "YES" to any one or more of these questions.

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