Have you been refused a new loan of late? Have creditors been chasing you for payments? Do your credit card payments exceed your income, or do you feel your debt is getting out of control? Overcoming debt is certainly not easy, but options are wide and varied. However for most people, admitting that they have a debt problem in the first place, is the most difficult part of getting out of debt. So, the first step is to accept reality and prepare yourself by assessing your debt status. If your debts are beyond your control, you may need expert help. Here are some indicators to look out for, which can help you decide when you should opt for credit counselling.
You will need credit counseling when:
* Your credit card balance is approaching the danger level and you cannot afford more than the minimum payment.
* You are having more than one credit card and are living on credit cards as you have no cash in hand.
* You have reached the credit card limit and and cannot borrow anymore. You are 100% in debt.
* You are lagging behind in bill payments and not opening bills.
* You are digging into your retirement fund and other savings.
* You don’t have any savings.
* You have lost track of how much you owe and to whom/ you have lost track of your debt amount
* Your checks have started to bounce
* You are unable to face friends and family members, and start avoiding them
Take Action Now!
If you are facing most or even some of these problems, you need help. Get your spending under control. Get a hold of your finances and start making a positive change. If you don’t think you can tackle the problem yourself, there are people out there who can help.
Developing a spending plan based on your circumstances and prioritizing your debts will be important steps you take at this time. Contact a debt management expert today for more information on how you can handle your debt issues and reduce your monthly payments. Start your journey towards a debt-free life now!