Warning Signs of Debt Trouble
If any of the following warning signs of debt trouble apply to you, it may be time to seek help from a professional regarding your debt.
- You are only making the minimum monthly debt payments
- You are receiving collection calls or letters
- You are borrowing money to make your monthly debt payments
- You have been declined for new credit
- Your credit card balances are maxed out
- You are constantly worrying about your debt
Even if your credit is still in good standing, any of the above warning signs could mean that you are only one unexpected life event away from a financial disaster. It is better to find out what options are available to you before this happens. Consider using a professional debt solution if it will take more than ten years to repay your unsecured debt (e.g. credit cards, loans, lines of credit) based on your current monthly payments. It is often easier to focus on rebuilding your credit once you are completely debt-free and can start fresh. Our DebtAnswers Solution Finder can help guide you toward your ideal debt relief options.
