If your finances are teetering on the edge of individual bankruptcy, it’s the perfect time to take a better look at your alternatives. While bankruptcy isn’t best, there are still things you can do to avoid it—if you operate fast.

Minimize Overhead – Slash needless spending and stick to your funds. Then you will have more money to funnel toward debt repayment. Start by figuring out the “four walls” of your expenditures: food, resources, housing and transportation. Subsequent, consider if you can cut any non-essential spending like eating out, shopping and entertainment. Finally, minimize gifts to family and friends right up until you purchase your finances in better condition.

Boost consumer and small business banking solutions Income — Getting more funds coming in may be hard, but is considered important to do whatever you are able to to avoid personal bankruptcy. Try working extra hours, taking on a second job or selling most of your properties and assets. Another option is always to ask someone or member of the family for a loan—though this option should be a last resort, as it may strain associations and make you even further in financial trouble.

Examine Types of Debts – Only some types of debt could be discharged through bankruptcy, which include child support, most again taxes and student loans. If a significant chunk of the debt is usually non-dischargeable, alternatives to personal bankruptcy for example a debt management schedule may be more suitable.

Identify what bankruptcy solutions you will need based on the buyer category. Bankruptcy software streamlines case management and reduces manual work with features like electronic filing, shape automation and legal type libraries.