Debt Out of Control? 

Find Out Here. 

Potential debt problems can be spotted before they reach the serious stage. By knowing what danger signals to look for, you can take steps to prevent a problem before it occurs. Look over the checklist below. If any of these danger signals look familiar, you may be headed for financial trouble. 

CHECK all that apply:

You think of credit as cash, not debt.     

Your debts are greater than your assets.

You owe more than seven creditors.

You and your spouse are dishonest with each other about your use of credit.

You are an impulsive or compulsive shopper.

You don't know how much your monthly living expenses are or the amount of your total debt

Your expected increase in income is already committed to paying off debts.

you depend on extra income, such as earnings by a second person or overtime by the breadwinner, to help you make ends meet.

You have less than 2 months' take-home pay in cash or savings where you can get to it quickly.

You have to pay back several installment payments that will take more than 12 months to pay off.

You have more than 20 percent of your take-home pay committed to credit payments other than your home mortgage.

You get behind in utility or rent payments.

You have to consolidate several loans into one or reduce monthly payments by extending current loans to pay your debts.

You cannot afford to pay for regular living expenses or credit payments; therefore, you

Results: If at least four of the above statements apply to you, examine your budget and look for ways to tighten your belt. If you checked five or more, you are probably headed for financial trouble. If you checked seven or more, then you may be in financial danger.

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