The Deal With Debt
Did you know that 33% of Americans have at least one debt
that is currently in collections?
If you have debt, you're definitely not alone - more than a third of U.S. consumers are having
trouble paying debt. Think you have it
under control? Be sure. Here are ten warning signs that you may have
too much debt:
You literally have no
You only make the minimum payment on your credit
cards each month.3
You continue to make more purchases on your
credit cards while trying to pay it off.4.
You have at least one credit card that is near,
at, or over the credit limit.5.
You don't even know how much total debt you
You use cash advances from your credit cards to
pay other bills.7.
You bounce checks or overdraw your checking
You've been denied credit.9.
You lie to friends or family about your spending
. You are occasionally late in making payments on bills, credit
cards, or other expenses.
It may have JUST hit you that you're in debt. Stress is understood. Breathe. You can get out of it.
Sometimes, we know deep down that we have a debt problem,
but it is easier to deny the problem than to address it. Starting good habits like saving, and looking for opportunities to
extra cash can help you begin managing your debt. It can
be painful and require hard work, but the sooner you realize that you are in
over your head, the sooner you can get help and begin to make positive changes
Photo credit: CBS
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