Bankruptcy Warning Sign: You Take An Equity Line Of Credit To Pay Your Credit Card Bills.

Another good sign would be that a person may have taken an equity line of credit in order to cover either some other type of expense or they may be using it to pay off credit cards, that would be a good sign at that point in time and maybe that person would want to consider of filing bankruptcy that gives him the opportunity to potentially walk away from a home that is under water from the equity line or negotiate with the mortgage holder.

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