Your situation
Warning signs
The financial problems that arise from excessive debt are often a cause of stress, fatigue, insomnia and even illness. They may cause serious family tensions that can lead to separation and divorce.
Here are some of the warning signs:
- Regular borrowing to make ends meet
- Difficulty in paying bills on time
- Using credit to purchase the basics (ex: food, clothing etc.)
- Paying only the minimum amount on credit cards
- Late rent or mortgage payments
- Harassment from creditors, who are not always understanding
- Interruption or threatened interruption of utilities (electricity, telephone)
- Cash advances on one credit card to pay another
- Little or no savings to cover an emergency expense or the consequence of a job loss
The first step and often the hardest, is the becoming aware of and the accepting of the situation. The fear of being judged and the embarrassment are usually important factors that create a major obstacle. Rest assured that you are not alone in this situation.
By taking advice and acting quickly, you can avoid many concerns and you may even realize that alternatives exist, more so than if you ignore the problem and do nothing.