Cunningham, Chernicoff & Warshawsky, P.C.

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As of May 29, 2020, Dauphin County, where our office is located, has moved from Red to Yellow status. Our office will re-open on June 1, 2020. Until further notice, Stay Safe Guidelines will be followed, including safe social distancing (6 feet), cleaning after each client and the wearing of masks by employees and clients at all times while in our office. People who are ill and those without masks will not be permitted entry into our office.

How to know if you have waited too long to file for bankruptcy

Bankruptcy can impact any entity, including municipalities. A township in Pennsylvania has struggled ever since a judge ordered the community to pay an oil and gas company over $100,000 in legal fees after losing a lawsuit. Local officials have argued such an action could bankruptcy the town. 

Bankruptcies are tough on businesses and city governments, but they are even harder on individuals. Citizens of Pennsylvania need to know when debt has become too much. Waiting too long can negatively impact the process overall, so it is vital to recognize the signs that you should have already filed for bankruptcy

You have begun alternating which bills to pay

A lot of people develop complicated systems to remain afloat. They pay one company this month while delaying payment to another company. They know which utility companies are more lenient and delay payments accordingly. To go by an old saying, they rob Peter to pay Paul. These systems are precarious, and no one should have to go through this much stress. If you find yourself in the middle of this, then you should look into bankruptcy to get a fresh start. 

Credit card companies have changed your arrangement

Many times, credit card companies identify trouble before you can. It is possible the company will terminate your credit card entirely. Sometimes, they will increase interest rates for seemingly no reason. The reason the company takes such steps is to protect themselves from a potential bankruptcy. 

The stress has become too much

Financial woes are common in any household. It is normal to budget, but you need to recognize when it has become too much. If you have accumulated too much credit card debt, then your only way out may be to file for bankruptcy. Too much stress is bad for your health, so you should realize when it is time to make a change.