Do you have a bill of debt? By using a system of credit and debt could be a way that allows you to have a home, a car, school tuition, marriage, home repairs, and even buy stuff. Be careful, you get caught up in too much debt which leads to more serious problems.
Being able to pay the credit bills does not mean you are free from problems. Only because you are able to adjust the bill in the budget also does not mean that your finances healthy. Remember, the money used to pay the debt cannot be used elsewhere. That means if you spend money every month on your credit card bills or other unnecessary debt, taken from another budget that could be used to plan for the future.
The worst thing is very difficult to realize the fact that you have reached a critical point with the debt situation out of limits. However, when analyzed, there are warning signs that can help you identify the trouble of your financial condition.
Here is a series of alerts that indicates you have a large debt. If one happens to you, it is time to take immediate action to remedy the situation.
1. You do not have savings.
2. You can only afford to make minimum payments on credit card bills every month.
3. You continue to use a credit card, whereas you are in the running to pay it off.
4. You have at least one credit card that is approaching, or even exceeding the credit limit.
5. You sometimes late in paying bills, credit cards, or other monthly bills.
6. You do not even know the total debt held.
7. You are using a credit card to pay other bills.
8. When making a debt proposal to the bank, your application is denied.
Actually you know, deep in your heart, that you are having problems with debt, but it is much easier to deny the problem rather than resolve it. Clearing debt needs your hard work, but the sooner you realize the problem, the more you can make positive changes in your personal finance. Delaying will only make things worse. If you think you cannot resolve the problem by yourself, it is the time for asking advice and expert assistance.
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