It’s hard for some people to come to the realization that they need financial help. Many people who are struggling financially think they can dig themselves out of debt. Others know that they have debt, but their debt problem isn’t as bad as “so-and so’s” so they think they are fine.
For both of those types of people, it may help to see a list of danger signs to help them realize that they need help. As outlined in a recent brochure by the Office of the Superintendent of Bankruptcy Canada (OSB), here are some danger signs that can help you determine if you have a debt problem, or if you’re on your way to having a debt problem:
you continually go over your spending limit or you use your credit cards as a necessity rather than a convenience
you are always borrowing money to make it from one payday to the next
you pay only interest or service charges monthly and do not reduce your total debt over many months
creditors pressure you for payment, have obtained a wage garnishment, threaten to sue or repossess your car, furniture or television, or hire a collection agency to recover the money for them
utility companies cut off service because your bills have gone unpaid
If you find yourself identifying with more items on this list than you feel comfortable admitting, contact us for a free, no-obligation consultation. We will review all options with you and come up with the best solution to meet your needs.
