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Debt Problems – The Warning Signs

Warning Signs Of Impeding Debt Problems

If you have any of the following situations or do any of the following, you are headed for debt stress.

These are some of the early warning signals of potential debt problems:

  • You are paying your accounts on time, but run out of money before you receive your next pay check.
  • You borrow money to pay off other credit cards and other debts
  • You spend more than 20% of your net income on paying your credit card accounts
  • You use your credit card to pay for food and necessities because you have run out of cash.
  • You only pay the minimum payment on your credit cards
  • You get turned down for a consolidation loan because your debt ratio is too high.
  • You find yourself refinancing a loan in order to reduce your monthly repayments
  • You need someone to stand surety on a loan because you’re a high credit risk
  • You are financing your vehicle for six or more years
  • You are consolidating your loans but are unable to close your accounts
  • You have more than 4 credit cards. Ideally you don’t need more than two
  • You find yourself hiding purchases from your family or are bickering with your spouse about how to deal with financial matters. Unfortunately financial problems lead to domestic problems
  • You find yourself depending on your parents and friends to help you out

Debt-911 Can Help

If you experience two or more of these warning signs, you should seriously consider the services of a debt counsellor and possibly entering the debt review process. Debt-911 can help place you on the path to financial freedom.

If you feel you may be over-indebted, and wish to receive a free, no obligation consultation, please feel free to call us, complete and submit the form alongside or SMS Help to 40935  after which a trained Debt-911 debt counsellor will contact you to assess your financial situation.