How Do I Know If I am in Financial Trouble?

For most people, financial problems start gradually, and get progressively worse, until you deal with them. Here are some warning signs that indicate you may be having financial problems:

Carrying a balance your credit cards is a sign of potential financial problems. Are your cards at or near their limit? Are only making minimum payments each month, such that you seem to never be getting ahead of the debt? Do you use one card to pay another? This vicious debt cycle is an obvious sign of financial trouble.

Another sign of financial problems are collection agent calls. Are collection agencies calling you regarding your debts and threatening to garnish your wages if they do not get payment? They seem to call at all times of the day and night. They even try to call family and friends. You can't enjoy a night at home because the calls never stop. Are they also calling you at work? This can mean a discussion with the boss about the number of personal calls you are getting. Now your debts are affecting not only your personal life but work and it seems like everyone knows.

Are you no longer using your bank account to deposit your paycheques because you are afraid the funds will be seized by a creditor to pay your debts? In many cases this results in you using cash advance places and they are taking a portion of the cheque, leaving less income to pay your rent, food and other living expenses, and then you don't have the money to pay your debts.

If one of these signs reminds you of your financial situation, you have options regarding your debts. It won't get better. You need a plan. The stress is affecting you and your family. Contact us today, and let's get started on a plan to deal with your debts.

Posted by Sandra Sykora, Trustee @ 3:06 PM

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