Some California residents' financial affairs are more dire than others. Some people may have a little bit of credit card debt that carries over month to month but that they pay off quickly enough. On the other hand, you may be among the many who wonder whether you will ever get your debt paid off and not just from credit cards.
If your financial situation becomes serious enough, you may become insolvent. You may not fully understand whether insolvency applies to your predicament, but if you are facing a situation in which you can no longer meet your financial obligations to creditors, you have likely already become insolvent.