Warning Signs

You are not alone!

An estimated 1 in 6 people is having serious financial difficulties. Financial difficulties can happen to anyone.
Worry and stress caused by excessive debt is unhealthy and can effect every area of your life.

The following are some of the most common danger signals that individuals need to recognize and address before their financial difficulties become serious problems:

CONTACT WITH CREDITORS

• You are afraid to answer the phone because it might be a collection agency calling.
• You have received second notices about overdue accounts.
• Your creditors have threatened to sue, repossess your personal property or hire a collection agency to recover their money .
• You are always making arrangements with your creditors to catch up on missed payments.
• You receive frequent calls from creditors or collection agents.

CURRENT FINANCES

• Your utility companies have cut off service because of outstanding bills.
• You pay one creditor one month and another the next because there's not enough money to pay both.
• You pay excessive interest or service charges because you don’t pay bills on time.
• You are renegotiating loans to cut monthly costs or looking for a consolidation loan to pay off old bills and a few new ones.
• You are looking for a consolidation loan to pay off other consolidation loans.
• Credit refused and loans are being called by the banks .
• You have little or no savings.
• You are unable to catch up on monthly bills.
• You are making only minimum payments on credit cards.
• You are using credit to pay for basic needs (rent, groceries, medication).
• You have tried to consolidate your debts but find you still cannot keep up the payments. The lender now wants the loan paid off or is asking you for a co-signer.
• The advertisements for payday loans and instant cash start to appeal to you.
• You are prepared to sign a short term high interest loan to meet cash requirements until the next payday.
• You feel your spending is out of control and you don't know what to do to get a handle on your finances

SPENDING HABITS

• You are spending 20% or more of your take-home pay on loans and credit card payments.
• You go over your spending limit or use credit cards as a necessity rather than a convenience.
• You only make the minimum payment on your credit card balances.

SITUATION AT WORK

• Your wages are being garnisheed to pay for outstanding debts.
• Collectors are calling and demanding payment of their client’s accounts and interrupting you at work.
• You have received your layoff notice at work and you have no idea how you will make ends meet.

SITUATION WITH FAMILY AND FRIENDS

• Your financial problems are affecting your health, job, marriage or home life.
• You are feeling stressed or overwhelmed
• You are having health, job or marriage problems due to financial stress
• You find that you are using your credit cards more and more.
• You are constantly exceeding your limit.
• You borrow from family and friends to help you make it to the next pay day.