When good debt turns bad
If you need help paying debt, you are not alone. Being in debt is a way of life for most Australians. But when that debt gets out of hand is when many people turn to the professionals for help paying debt.
There are hundreds of ways for good debt to turn bad. You could have lost your job, fallen ill or been injured, a relationship could have broken up or you simply might not have managed your money properly. Not matter how it happened you can still seek help paying debt.
When do you know you need help paying debt?
Most Aussies can’t identify the warning signs of debt stress until it is too late. Debt Rescue has outlined some of the most common warning signs of debt stress.
Warning Signs of Debt:
You may need help paying debt if you experience any of these following signs. Some of the most common warning signs experienced by our clients include:-
- You have no idea what the total of your debts are
- Credit cards are sitting at or dangerously close to the limit
- Struggling to pay minimum monthly repayments
- Cash advance from one card to pay bills or other cards
- Pay day can’t come soon enough but there never seems to be enough
- Avoiding your mail box / inbox
- Hiding purchase or accounts
- Your partner has no idea of your debt levels
- Savings are non-existent or evaporating quickly
- Your latest application for credit has been declined
- Relying on family / friends for cash
- Not being honest with yourself or others about your debt situation
- Using credit for daily necessities
- Losing sleep, feeling anxious and overwhelmed by your debt situation
If you, or someone you know is experiencing these symptoms of debt stress, it is time to take immediate action to improve your financial position and get help paying debt.
Getting Out Of Debt
It doesn’t matter whether you are 6 months behind in payments or you have only missed one, as soon as you feel debt stress you should seek help paying debt. The sooner you make arrangements to prevent bad debt the easier it will be to get your spending back under control.
Thankfully, there are a number of options for people in every stage of financial hardship which can help you break free from debt. If you need help paying debt, you should consult a personal debt management company such as Debt Rescue to help you find the right solution for you.
Debt Rescue offers a number of positive solutions to bad debt. These include a budgeting program, Debt Consolidation, Debtstroyer Agreement, a Formal Debt Agreement and even Bankruptcy. For more ways on how Debt Rescue can assist if you need help paying debt click here.
Help Paying Debt
Remember it’s never too early or too late to seek help paying debt. There are a number of options at each stage of debt to help you get your spending under control. For help paying debt and other financial assistance call Deb Rescue and Talk to An Aussie Who Cares.