A diminishing bank account balance as a result of overspending is the first sign of a debt problem. Another sign of problem is the lack of ability to pay your debt. Cash has become tight and you feel like you never have enough money. This scenario creates a negative domino affect on your entire financial well-being.

We also suggest you read the section on how bad credit hurts.

Credit Cards
A sign of debt trouble is when you start taking cash advances from your credit cards to pay minimum balance or basic living costs. This is financial suicide. Another sign is when you start accepting credit card offers that are sent to you in the mail. You use these credit card to pay the bills for your existing credit card debts. One of the ways to begin eliminating your debt is by changing the way you budget.

Balance Transfers
You can really put yourself in debt if you continue to transfer your balances from the credit cards with the high balance or the high interest rate to a different card. Also, do not abuse the convenient checks credit card companies send you. The bills will grow. Previously you were able to pay the minimum, now the minimum is more than you can afford.

A warning sign of debt trouble is when you no longer know how much you owe to your various creditors. If this is the case there a variety of different methods for dealing with creditors. If you neglect to make payments to your creditors and become a few months delinquent, then your account is going to go into collection. You will then need to learn how to deal with collection agencies.

In conclusion...
Not all debt is bad. Get more info about good debt vs. bad debt. The trick is to be able to understand how to manage your bills finances so that you can reap the benefits of debt and avoid financial woes at the same time.

Managing Debt
Personal Loans for Paying Off Credit Cards
Planning a Budget is a Good Strategy
Changes In Spending Habits
Fixed Expense vs. Discretionary Expenses
Locating a Financial Counselor
How to Save Money by Changing the Way You Buy Food
Dealing With Creditors
Dealing With Collection Agencies
Paying Off Credit Card Debt
What is Debt-to-Income?

US National Debt Clock - See how much all of America's public is collectively in debt.
The Truth About Debt - Dave Ramsey offers informative information about debt and how to handle it.










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