The Deal With Debt

Did you know that 33% of Americans have at least one debt that is currently in collections?

If you have debt, you're definitely not alone - more than a third of U.S. consumers are having trouble paying debt. Think you have it under control? Be sure. Here are ten warning signs that you may have too much debt:

1. You literally have no savings.
2. You only make the minimum payment on your credit cards each month.
3. You continue to make more purchases on your credit cards while trying to pay it off.
4. You have at least one credit card that is near, at, or over the credit limit.
5. You don't even know how much total debt you actually have.
6. You use cash advances from your credit cards to pay other bills.
7. You bounce checks or overdraw your checking accounts.
8. You've been denied credit.
9. You lie to friends or family about your spending and debt.
10. You are occasionally late in making payments on bills, credit cards, or other expenses.

It may have JUST hit you that you're in debt. Stress is understood. Breathe. You can get out of it.
Sometimes, we know deep down that we have a debt problem, but it is easier to deny the problem than to address it. Starting good habits like saving, and looking for opportunities to earn extra cash can help you begin managing your debt. It can be painful and require hard work, but the sooner you realize that you are in over your head, the sooner you can get help and begin to make positive changes.