Be Aware Of The Debt Warning Signs
Do you know the red flags to look out for?
Not everyone who has a debt problem needs professional help, but if you do, waiting until the situation gets out of control is probably the worst thing you can do. Any of the following could indicate that you need advice regarding your debt situation:
- You only pay the minimum repayments
- You use credit cards to pay off other debts
- You are always near your credit limits
- You are refused credit limit increases
- You sometimes miss payments because you cannot afford to make them
- You don’t know exactly how much you owe
- You lie or a to your friends and family about the amount of debt you have
If you have started receiving written demands for payment it is essential that you seek professional advice, for there can be no denying that you have a problem. Creditor demands can escalate very quickly if you do not heed them, and many people have found themselves unable to prevent bankruptcy because they have taken action too late.