Signs of Debt Distress

Are your Finances Doing Well?

Part of the problem of debt in American society is that many people don't realize that they are in financial trouble. They move along with credit cards nearly maxed out, making minimum payments every month and then re-charging their credit card to the max. Every month much of their total income goes to paying interest on credit cards or loans and they think that this is the way life is supposed to be. Living paycheck to paycheck and being "one paycheck away from homelessness" has become the American way of life, but it doesn't have to be.

Signs of Financial Distress

The following are signs that you may have but not know you are in financial trouble. If two or more of the following apply to you, you should seriously consider debt consolidation or other services in order to reduce and eliminate your debt:

• You do not usually or cannot afford to pay more than the minimum payment on your credit cards each month
• You rely on your credit card(s) to be able to pay your monthly utilities or bills
• Your monthly housing expenses including your mortgage or rent and utilities, costs more than 30% of your take-home pay.
• You do not have at least 3-6 months of your living expenses (take home pay) saved up in a bank account

If you qualify for two or more of the above signs of financial distress, you are not alone, but you don't have to stay in that situation. Speaking with a credit consulting company or debt consolidation service can set your feet on the path to financial independence and a debt-free life. Don't hesitate or wait until your next billing cycle; fill out our free form above and learn what steps you can take to paying your debts down.