by JQ Adams

Created on: February 03, 2009

While money may be tighter than ever for families around the county, your current financial situation may be going beyond just trying to make ends meet. Consider the following 10 warning signs you may be headed for financial trouble.
You are paying only the monthly minimums, or less, on your accounts.
You are constantly finding ways to pay a bill by not paying other bills.

Your credit cards are all close to their limit or maxed out completely.
You charge more on your credit card a month than you are making in payments.
You are receiving collection notices in the mail or calls on the phone about delinquent accounts.
You are using money from a savings account or other investment resource just to pay your monthly bills.
You find yourself hiding or lying about expenses or purchases to your husband/wife.
You are signing up for new credit cards.
You work overtime hours to be able to make your credit card payments.
You avoid facing the amount of your debt and do not take the time to analyze how much money you actually owe or how far behind you have become.
If any of these statements ring true, it may be time to seek outside help to get control of your finances before they get out of hand, especially if you have tried to do it on your own without success. Consumer Credit Counseling is one option many people are now using to straighten out family finances. A qualified, reputable counselor can help you gain perspective on your situation and assist you in setting new goals for saving and paying off debt.

The key thing to remember is not to wait. Ignoring the situation will only escalate the trouble you are getting into with your finances and will ultimately lead to you owing even more money than you can afford to pay. Credit companies especially will impose penalties and fees and also jack up interest rates, which can quickly increase and make bill paying all the more difficult.

Research local counselors in your area and find out how they can help you regain control. Go to your appointment fully prepared with all of your statements and bills for a thorough analysis. You will also need to find out what other information the counselor will need, including your pay stubs and proof of other income. Do not try to hide any issues out of pride or embarrassment or you will never be able to resolve a bad financial situation. If you ultimately decide to use a debt management program, it is very important you do not miss any payments or you risk being dropped from the program completely, leaving you in a bigger bind than when you started.

All debts start life under control, but things can change. That's when you need debt help and the best advice on which debt solution would be right for you. You may also want to know what's involved in a debt settlement company, an IVA (Individual Voluntary Arrangement), Debt Consolidation, debt management company, Bankruptcy or other financial advice. Whatever solution we recommend, honest, free advice is at the heart of our service. If you owe over 15,000 call us without obligation today.

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