Sometimes it can be truly difficult to determine whether or not you are in real financial trouble. Especially if you are young, you have recently assumed new major expenditures or if you are in the middle of a major life transition such as marriage, divorce, the diagnosis of an illness, job loss or recovery from an accident, it may be uniquely difficult to make heads or tails of your bills. However, a few signs should serve as red flags that it might be time to speak with an attorney experienced in bankruptcy and other forms of debt relief.

First, if you are consistently paying late fees on your bills, you may be in trouble. Missing payments and late payments will harm your credit score. In addition, they serve as a warning that if you do not or cannot pay your bills consistently on time, you need to either scale back your spending or you need to seek out some form of debt relief.

Second, if you are juggling multiple loans, credit cards, payday advancements and other stop-gap strategies, you are likely not standing on firm financial ground. Running up the occasional credit card bill or requesting the odd advance is not generally grounds for concern. However, if you find yourself running up credit sources repeatedly and often, you may be in real financial trouble.

Finally, if your stress level is skyrocketing or you are suffering relationship consequences as a result of your finances, it may be time to seek legal assistance. Sometimes the best indicator of your financial health is whether your finances are impacting your physical, emotional or relationship health.

Source: Bankrate, “8 signs you’re flirting with financial ruin,” Claes Bell, Accessed June 2014