Do you have Debt Trouble?
Recognizing that there is an issue can often be the first step in recovery. You have gotten on a path, are you are speeding towards an economic catastrophe? Canadians and in particular BC residents are carrying more debt than they recommended, levels of debt that are not sustainable if interest rates rise.
10 signs of Excessive Debt, You may have a problem
- You routinely spend more than you earn, at the end of the month you do not have enough money for the rent/mortgage.
- Your Credit score is declining and shows months of none payment
- You continually go over your spending limit or you use your credit cards as a source of income;
- You are always borrowing money to make it from one payday to the next, using payday loans on a monthly basis;
- Your wages have been garnisheed to pay for outstanding debts;
- You have recently been turned down for credit or a loan.
- Creditors pressure you for payment, threaten to sue or repossess your car, furniture or television, or hire a collection agency to recover the money for them
- You don’t answer your phone as you are afraid it is a creditor.
- You skip payments on some bills in order to pay others, or use cash advances on one credit card to pay off another.
- Your credit limit is maxed on most of your cards and you either skip or pay late regularly