Need Help? The Warning Signs

Print This Page Email This Page

No one wants to get to the point where they have fallen so far into debt that they have to consider bankruptcy as their only solution. Everyday, thousands of consumers find themselves deep in debt, and they can’t figure out just how they got there. How could they miss the warning signs? What could they have done to prevent these problems? Unfortunately, many don’t know what to look for. Luckily, consumer credit counseling services can help create debt management plans to get individuals back on track and teach them ways to recognize when they are slipping out of control.

What are the Warning Signs You May Need Professional Debt Management Help?

How bad is your debt? It is important to be honest with yourself. Are you contributing to your debt management issues without realizing it? Ask yourself the following:

  • Are you unable to pay your creditors on time and are starting to receive collection calls?
  • Are you living paycheck to paycheck? Do you have little or no money put aside in a savings account?
  • Are you using a significant amount of your monthly income to pay toward your debt (generally more than 20%)? (This does not include mortgage payments).
  • Do you often use credit cards or borrow money for items that you used to purchase with cash?
  • Can you only afford to make the minimum monthly payment on your credit cards? Or are you skipping some payments in order to make other payments on time?
  • Have you taken out new loans to pay off existing debts?
  • Do you often argue with your partner about money?
  • Have you avoided adding up your total debt?

If you answered yes to any of these warning signs, consider seeking debt management or budgeting help from a nonprofit consumer credit counseling service, like ClearPoint.

Do you ever spend time worrying about debt management issues? The term “financial health” can have a dual meaning. If you are constantly stressing over financial matters, it could have a negative effect on your general health and well-being. Don’t let debt management issues spill over into other aspects of your life. Always try to remember that you can remedy almost any situation, and that help is available if you ever feel like you need it.

For a free debt and credit counseling session, call 800.750.2227 (CCCS) or get started now online.