Bankruptcy
Warning signs of impending bankruptcy:
a) Unable to make minimum required payments
b) Taking out cash advances from one credit card to pay another
c) Using credit cards to pay for items typically purchased previously with cash.

Bankruptcy's notation on your credit report:
a) Chapter 7 bankruptcy will be noted for 10 years.
b) Chapter 13 bankruptcy will be noted for 7 years.

To avoid bankruptcy:
Figure out where you stand including…
a) Debt to income
b) Net worth
c) Assessment of fixed and variable expenses in your spending plan / budget
d) Contemplation of what your financial future will look like. For example, are you receiving a job promotion that will significantly increase your earnings?
e) Evaluate your true feelings on making lifestyle changes to live within your means.

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