Do You Have a Debt Problem?

Credit problems can be caused by any number of things: overspending, failure to budget, loss of a job, bad investments, divorce, death or unexpected emergency. Fortunately, there are a number of things you can do to improve your situation, and there are many sources of outside help. Answer the following questions honestly to see if you have a problem with credit:

  1. Are you at or near the limit of your lines of credit?
  2. Can you make only minimum payments on your credit cards?
  3. Is the amount of your new purchases a surprise each month?
  4. Are you frequently taking cash advances on your credit cards?
  5. Are you usually late paying your bills?
  6. Are you borrowing to pay for items you used to pay for with cash (e.g., groceries, etc.)?
  7. Are you tapping into your savings to pay your current bills?
  8. Do you put off medical or dental visits because of lack of money?
  9. Do you have savings equal to less than three months of income?
  10. Is an increasing percentage of your income going to pay off debt?
  11. Are you unsure how much you owe?

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