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SIGNS OF HAVING TOO MUCH DEBT
Are you aware of what the signs of possessing too much debt are? When utilized properly, credit is excellent. However, over 50% of Americans are struggling with debt, hurting their long-term financial wellness.

Do you only make the minimum payments each month for your credit cards? Although not a positive practice to follow long-term, it is not necessarily a sign that you are having financial troubles. Paying the minimum every month means that it will take you a very long time to settle your debt, while paying a great deal of money in interest to the credit card companies. Use the credit card interest calculator to determine how much interest you will pay for your credit card debt!

Below are some questions related to your debt. If you answer yes to one of more of the first set, you may be able to catch your debt issues before they become out of control. If you answer yes to one or more of the second set of questions, you are in a financial burden and need to immediately take the proper steps to resolving your issues.

First set - Answering yes to one or more of these questions is a sign that you are on the road to debt problems. Adjustments in your spending patterns will help you re-gain control of your finances.
 -- Are you lacking a savings account?
 -- Are you only paying the minimum due on your credit cards?
 -- Have you started using your credit cards to pay for items and services you never did before, i.e. food, gas, etc.?
 -- Has the amount of money you use to pay your debt been increasing?
 -- Do you have several credit card accounts with balances?
 -- Do you increase the balance on credit cards after payments are made?

Second set - Answering yes to one of more is a sign of a big problem.
 -- Are your credit cards maxed out, or near to being maxed out?
 -- Are you relying on the float, or grace periods for making payments on your bills in hopes that your bank account will recover funds by the time the check you send clears?
 -- Do you not know how much your total debt is?
 -- Are you using cash advances from one credit card to pay for another?
 -- Has your credit card recently been declined when you were trying to make a purchase?
 -- Have you recently been turned down for some sort of credit or loan?
 -- Have you recently bounced any checks?
 -- Have you been on the receiving end of phone calls from collection companies?
 -- Do you lie to your family about the amount of money that you spend?
 -- Do you hide your credit card statements from your family?
 -- Are bill collection companies calling you?

It is not easy to admit that you have a problem with debt. However, the sooner you acknowledge your issues, the quicker you can take initiative and re-gain control of your finances, and your financial future!

Lets Star Loan Services help you re-gain control of your debt! We will help you make wise decisions regarding your financial well being.
Apply for a free debt relief quote!

Learn more about our program for consolidating debt.


 

 

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