Often as a Chicago bankruptcy attorney, I will get asked the question when should I file for bankruptcy. Well that answer depends on your situation, but some warning signs that you may need to file for a Chapter 7 or a Chapter 13 are commonly these situations.

1. You have had a loss of job or a reduction of income

2. You are taking money from your living expenses to pay creditors

3. You are getting garnished

4. Creditors are suing or harassing you

5. You have had a medical emergency without insurance and have significant medical debt

6. You are taking money from one creditor to pay another creditor

7. You cannot sleep at night because of debt

8. You could not easily get out of debt within 3-5 years and paying your normal living expenses

9. You are using exempt retirement funds to pay creditors or living expenses.

10. You are behind on your mortgage or car

11. Your license is suspended

If you answered yes, to one or more of the following warning signs you should consider speaking with me. I am here to help you lose your debt and keep your dignity. My office offers a free consultation and you can call me at 312-489-8182!

Marc Wagman

Attorney at law