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Bankrupt
From Page 6
signs that someone may be in trouble, including:
• Paying only the minimum on revolving accounts;
• Paying bills late;
• Using 20 percent or more of takehome income to pay off debts;
• Using a credit card to pay off a credit card;
• Using credit cards to pay for something that was previously paid for with cash;
• Approaching or reaching credit limits;
• Failing to calculate the total debt and being afraid to add it up;
• Fighting with a spouse over bills, and
• Being threatened with repossession or foreclosure or being hassled by collection agencies.
At that point, people need to “find the leak and plug it there,” said Mike Kidwell, co-founder and vice president of Debt Counselors of America (DC A), a nonprofit based in Gaithersburg, Md.
96.6%