Admitting that you need help is the first and hardest step in your journey to become free of debt. Unmanageable levels of debt can leave you feeling helpless, but there is always assistance available to help you get out of debt. If you think you might be struggling, here are 3 tell-tale signs that you need to seek help for your debt problem.
Missing Due Dates
The phone bill has just come in again, and even though you were expecting it you simply don’t have the money to pay it. While deferring your due date can work in the short term to keep you out of trouble, it can be a signal that you are struggling with your finances. Once you start being late on the deferred due date, the company will begin to mark you as a credit risk. This can affect your rating and consequently your ability to secure any kind of credit or loan in the future.
You Don’t Know How Much You Owe
Not knowing your level of debt can be a warning sign for a number of reasons. Either you are hiding from your debt because you know you can’t pay it off, or you do not have a clear and concise budget and financial plan in place. Either way, you should sit down and work out the exact amount that you owe across all loans, credit cards and anything you’ve borrowed from friends and family. Once you have put a numerical figure on your debt, you can start the process of eliminating it for good.
One of the best ways to keep track of your debt is tsso consider a consolidation loan. As the experts in debt solutions, Fox Symes is a leading provider of solutions and information on debt consolidation and budgeting assistance. Go to http://www.foxsymes.com.au to find out how they can help you to control your debt.
Using Credit for Everyday Items
When you have to put the groceries on the credit card, or are using your loan to meet rent and other regular bills, you need to immediately reconsider your position. By trying to survive on credit cards and loans, you are only digging yourself deeper into debt that you will struggle to repay.
So What Can I Do?
Luckily you have a range of options that can help you to regain control over your finances. If you have already tried budgeting and creating payment plans yet are still struggling with debt, you can seek professional advice. You can access debt consolidation assistance, budgeting information and more when you consider the services of a quality debt solutions specialist.
To benefit from the professional knowledge and dedication of Australia’s leading debt solutions provider, contact Fox Symes for a free consultation on how you can take control of your debt. Don’t wait for the signs to get worse, take action as early as you can and say goodbye to your debt for good!
There’s no excuse for not knowing how much you owe. Sign up for a service like Mint.com (for free) and keep track of your debt online. Staring at it will definitely help focus on paying it off.