Dangerous Debt Warnings

I don't believe in debt or rather I don't like it. I've been in debt so many times. Sometimes I've been in despair. I remember walking down my street and feeling so lost, I walked past my house. Debt can be an innocent friend, a Saviour of the moment and a devil in the end. Here are some of the debt warnings.

Calls from the bank

When you get a call from the bank at first it is frightening. Then after many calls over the years, you begin to treat it as a matter of course. That is a bad sign. When you dread every phone call that is a dangerous debt warning.

Calls from credit cards
Calls from the credit cards companies are even scarier. Credit cards usually have a higher lending rate than banks. They like the banks can shred your credit rating. Actually, you shred your own credit rating by use of credit cards and banks. Shredding your credit rating is a dangerous debt warning.

According to ABC news credit card fees have went 160 percent in five years. Vicki Mabrey and Mary Claude Foster of ABC also reported that Americans are in excess of $9,000 in credit card debt. In the same story they say the interest of the $9,000 is over $1,300. It is a dangerous debt sign and a big opportunity for the credit card companies. For now, even with unprecedented rate of personal bankruptcy the credit card companies are competing to sign up more customers and hook them into inevitable debt.

Other bad signs
If you know all the bank machines that dispense $5.00 denominations in your area, you know you have a cash flow and debt problem.

Payday
If you need to borrow more money at payday, to get through another week you know it is a bad and dangerous debt warning.

America and Americans debt
Americas are headed for a big collection crisis. America, the land of dreams owes over 8 trillion dollars. Each citizen's share of that debt is over $29,000.00 according to the U.S. National Debt Clock. That is a dangerous debt warning.

http://www.brillig.com/debt_cl ock/
www.abc.com

Learn more about this author, Jobie Weetaluktuk.
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