Do You Have a Debt Problem?

If you have problems getting adequate sleep each night and put off checking the mail each day for fear that your credit card statements and bank statements will be in there, you might have a debt problem. Most Americans are now living with some form of debt, and most of those can barely afford to pay the minimum amount due each month. Unfortunately, many Americans are so far into debt that they have to take extreme measures. If you aren’t sure whether or not your debt is out of hand, or you fear that it might soon be out of your control you need to start making major lifestyle changes; starting with credit counseling. If you aren’t sure whether or not to seek help managing your debt, ask yourself these important questions.

Do You Only Pay the Minimum Amount Due?

If your credit card statement arrives each month and you make only the minimum payment, you have a debt problem. It doesn’t matter if you can afford to pay more than the minimum or if you can’t afford to pay more than the minimum; if you are not paying more you have a debt problem.

Do You Call the Number on the Back of Your Credit Cards to Check Your Available Balance?

If you find yourself in the car at the mall calling your credit card company to see how much of your credit line you have available, you have a debt problem.

Do You Consider Your Credit Card Spending Limits Additional Income?

If you apply for cards and/or use your current card’s available balances as additional income each month, you have a credit problem. For example, if you want to go on vacation but can’t afford to pay for your airfare and think to yourself, “I can apply for a new card and have an extra $5,000 to spend this month on vacation and/or bills so I’ll be fine,” you have a debt problem.

Do You Pay for Things You Used to Buy with Cash with Your Credit Cards?

Are you purchasing gas, groceries and paying your electric bill with your credit card? If so, you might have a debt problem.

Do You Use Credit for Big Purchases?

If you want to go on a trip, or buy a new table or furniture and find yourself applying for credit to make those purchases, you have a debt problem.

If you answered yes to any of these questions then you need to consider taking some credit counseling courses.