Warning Signs

It's hard to admit when you're having a problem with debt.

This is natural. Debt can be painful and confronting a situation that reveals poor planning or judgment on your part can be very uncomfortable. Here are some signs that might indicate that you're headed for trouble:

Next month's bills arrive before you've paid the ones from last month.
You don't know how much you owe.
You get a new loan to pay old loans.
You only pay the minimum balance due each month.
You spend more than 20% of your net income (after paying rent or mortgage) on debt maintenance.
You're using your savings to pay for day-to-day expenses.
There are more bills than you thought.
You know what past-due notices look like.
You get an overdue balance on a credit-card statement.
You avoid opening letters.
You rarely keep a running balance in your chequebook.