5 Signs You Should Consider Filing for Bankruptcy | Tom Orr Law

5 Signs You Should Consider Filing for Bankruptcy

5 Signs You Should Consider Filing for Bankruptcy

Filing for bankruptcy can be a scary thought. However, many report that filing for bankruptcy gave them a fresh new start and saved them from insurmountable financial troubles. If you’re considering bankruptcy, it is important to recognize these warning signs.

Are you living paycheck to paycheck while only paying minimum payments?

You need to be honest with yourself at some point. Are you spending every penny from every paycheck on bills and necessities and have nothing left over? Are you spending money on luxury goods that are not considered a necessity? If the answer for both of these questions is YES, then it can be difficult to get out from under your growing debt without filing for bankruptcy.

Are you behind on your mortgage?

If you have missed multiple mortgage payments, you must take action to protect your investment. How far behind you are on your mortgage will depend on whether your can save your home. If you have the possibility that you may lose your home, then it is important that you file for bankruptcy sooner rather than later to avoid losing your home.

Do you use credit cards to pay your bills every month?

If you use your credit cards to pay your bills, then you are not alone. This practice can lead to even more dangerous spending. Using credit cards to pay your bills adds more debt on top of your debt because of the interest you pay. This is a sign that you should consider filing for bankruptcy.

Are bill collectors calling you non-stop?

If collectors are relentless in calling you, there is a way to put an end to this. Filing for bankruptcy will stop the collection calls during the filing process.

Do your finances cause physical sickness, anxiety, and/or loss of sleep?

Your health is extremely important. You can’t change the past, but you can change the future. Take action now. Money and material possessions are replaceable. Health and happiness are not.

If you’re considering filing for bankruptcy, it is important to find out all the facts and what you should do. Contact me today so I can answer all your questions and help you make the right decision.


Hundreds of thousands of Americans, including consumers and business owners, file for bankruptcy each year. While many think this situation is the result of overspending, most cases are due to financial hardship such as job loss, costly medical bills, divorce, or a poor economy.


I’ve been practicing bankruptcy law in Burlington, New Jersey for over 33 years. With just one location, I can focus exclusively on helping my clients make their way not only through bankruptcy, but well past it. We will work together to explore all of your options and determine if bankruptcy is the right choice for you. The goal is to get you on the path to a new beginning.


If you’re losing sleep, feeling scared or even embarrassed, let’s talk. There is life after bankruptcy and it starts here. My offices are located in downtown Burlington, near the Riverline train stop. I provide Saturday and evening hours as needed. I offer payment arrangements to fit your budget. Contact my office today at ​​609-386-8700.


Start your path towards a new financial beginning. Contact our offices today!
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