Warning Signs of Debt

A glass of red wine a day is good for your heart, a gallon of red wine a day is a sign of alcoholism. That’s pretty much how debt works, as well. Here are the two big questions to ask yourself that will help you decide whether your debt has gotten out of control.

• How much money do I owe?  Just getting it down on paper can help you get a perspective on your debt. Once you see what you have to pay, you can focus on figuring out how to pay it. If you don’t know how much money you owe, you definitely have a problem.
• How do I pay for what I owe?  Do you keep a separate checking account to pay the bills, or do you put it all on the credit card? If you’re dipping into your savings to pay for day to day expenses, you should seek credit counseling immediately.

If you think you may have a problem with debt, we offer a free debt reduction evaluation.