The idea of filing for bankruptcy can be depressing and scary. Sometimes our finances get out of control through our own poor financial choices, but sometimes there are simply unexpected life events that take us by surprise and ruin our bank account and our credit score (death of a family member, long-term unemployment, etc.). Sometimes deciding when it is time to file for bankruptcy can be difficult, but if you keep a lookout for these three signs, you'll know that it's time to call your trusted bankruptcy attorney. 

Borrowing Money from Loved Ones

Borrowing money from people you know isn't uncommon. However, when you find yourself borrowing money for things like utility bills, credit card payments, or mortgage payments you've crossed the line into needing to file bankruptcy. If you're still not convinced, consider how many times you've actually been able to pay people back the money that you "borrowed". If you're having trouble remembering the last time you were able to pay someone back in full, it's time to file. 

Creditors Up the Ante

Financial institutions that have loaned you money will naturally start to harass you if you miss a payment or two. But if you find yourself being threatened with legal actions such as repossession of property or wage garnishment, you have entered into a situation that is perfect for filing bankruptcy. If creditors are going to these lengths, you've likely not made payments to them for a series of months and have not been communicating with them about your situation. All of these are signs that's it's time to file. 

You Feel Like Ending It All

This is the most frightening, but most surefire, way to know that you need to file for bankruptcy. When you begin to contemplate doing things like abandoning your family or committing suicide, that means it was time to file for bankruptcy a long time ago. Bankruptcy helps take the pressure off of you and your family so that you can have a chance to reboot your finances and live out the remainder of your lives happily and in peace. When you feel this way, talk to someone you love, make arrangements to see a mental health professional, and then call a bankruptcy lawyer. 

Drowning in debt and not making enough to make ends meet (if you're employed at all) can be an overwhelming experience. Don't let debt win! Call a bankruptcy lawyer (like those at Bauer & French Attorneys at Law) and get your finances, and your life, back on track.