Almost everyone will experience financial difficulties at one time in their lives. These difficulties are not always caused by poor money management. In fact, they may be caused by factors that are beyond our control such as death of a spouse, divorce, or job loss. While each case is different, reviewing common ways to tell if you are in financial danger in Manitoba can be helpful in deciding whether to meet with a bankruptcy trustee.
Here are some universal financial danger warning signs that you should watch for:
- Your credit cards are always “maxed out”
- You’re using advances from one credit card to make bill payments
- You’ve missed one or more loan payments
- You’ve missed a mortgage payment
- Collection agents are calling you at home and at work
- Collection agents are threatening you with legal action
If this sounds like your situation, you should think about getting some professional help. You can contact a Manitoba bankruptcy trustee for a free initial consultation. Whoever you see will likely be able to give you the advice you need to get your finances back on the right track.
We outlined several ways to tell if you are in financial danger in Manitoba. Financial problems do not tend to go away on their own. The sooner you get help, the sooner you will be back on your feet.