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What are signs you may be falling into debt?

Residents of Washington D.C. who are struggling financially have likely also asked themselves whether or not they should be filing for bankruptcy. At Ammerman & Goldberg, we work to show you the warning signs of debt by providing you with a debt test that can be used to determine just how dire your financial situation may be.

Your money situation should be the first thing you examine. For example, have you been out of a job recently, or has your payment been decreased? Have there been any surprise emergency situations that have cost you money, like a sudden illness or hospital stay? Do you struggle to make credit card payments or other bill payments? These could all be signs that you're heading toward a financial crisis, as they indicate your expenses are outweighing the money you make.

Being constantly worried about your money can also be a warning sign, especially if you feel like you're falling behind on payments. If you owe back taxes or have any unpaid bills, especially if collection agencies and the like have contacted you about said bills, this is a big red flag. It's best to avoid missing or being late on payments, but garnering the attention of collection agencies can be a sign that things may have spiraled out of your control.

To take a closer look at the debt test we offer, visit our web page directly. You might find items listed that you may not have considered before, which could shed light on your personal financial situation and help you find the answers you're looking for.

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1115 Massachusetts Ave NW,
Washington, DC 20005
Phone: 202-559-1428

10512 Pohick Court,
Fairfax Station, VA 22039
Phone: 703-550-7030

6926 Seven Locks Road,
Cabin John, MD 20818
Phone: 301-890-4500

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