Do you have a Debt Problem? Here is a simple check list, it is widely
considered that you have troubled finances if you say yes to any of these.
" Your creditors keep calling
" You don't have a budget plan
" Your using credit card to buy groceries because money is running out
" You use your credit card for cash advances
" You are thinking about filing bankruptcy
" You carry a balance on department store cards
" You only pay the minimum monthly payment on your bills
" You can't afford even the minimum monthly payments
" You don't have a savings account
" You are afraid to show your spouse the check book
" You avoid discussing finances with your spouse
" You avoid people you owe money to, no matter how small an amount
" You are still paying for your purchases from 2 years ago
" You do not know how much money you owe to your creditors off the top of
your head
Debt is something that has a habit of putting us in very awkward situations.
One our readers told us of a situation where he went out for a meal to a
restaurant, with some friends only to find out that when he paid with his
credit card, the card was decline. The embarrassment that he felt inside is
something he thinks he will never forget. And he is certainly not alone!
Another reader points out that he was so far in debt that when his company
organized a Christmas dinner, where everyone had to pay their share. He
offered to pay everything by card, and collected just the cash, so that he
would have enough for groceries over Christmas!
Debt has a real and profound impact on our lives, and often its embarrassment
and our unwillingness to admit to debt, that compounds the problem. There is
often an image that is associated with Debt and that being it is caused by
reckless spending and people who are in debt are there because they spent
beyond their means.
While this is certainly true in some cases, but majority of the people who
are in debt fall roughly in two categories
1) Their means were not much to begin with, these include the elderly and
people/families on low incomes. These people find it a struggle to survive in
a daily basis, and are one purchase away from falling in the debt spiral.
2) The other ones are that we call one mistake type debts. They make one
purchase and then something goes wrong, and then this purchase is compounded
on by other purchases and circumstance.
What is really important in times like these is the support of the people
around you. We have a dedicated forum here were you are able to speak with
people who are in similar situation as yourself.
There are also numerous articles throughout the site that will show you what
you need to do. Most people's debts will not just go away by a bit or
organization, and purpose of this site is not to give you false hopes.
Inevitably there might come a time where you need to call in some specialist
and we will also help you discover which ones are the best, these
recommendations are based on our personal experiences as well as experiences
of our readers.
