Before you read our second round of bankruptcy warning signs, take a look at Bankruptcy Warning Signs Part One.  Below, we have detailed two more signs that may indicate bankruptcy is looming on the horizon:

You are abusing your home equity line of credit.  While banks have become stricter, there is still a chance that people may abuse their home equity lines of credit.  However, when you fall behind on home equity payments, it is just as bad as falling behind on your home mortgage.  This could lead to the bank moving forward with foreclosure proceedings and you could lose your home.

You find that you are living from paycheck-to-paycheck.  If you live check-to-check and have no money in a savings account, it is often a bankruptcy warning sign because one huge financial setback could cost you everything.  For example, if you became unemployed tomorrow, how would you pay your bills?

If you have questions about filing for Chapter 7 or Chapter 13 bankruptcy in Houston, contact us now to get answers from a Houston bankruptcy lawyer.