Most families in America today have a credit card, some have two or more. The type of credit card you own, gold, platinum, ext, is almost a status symbol in society. The concept is good, using your good credit to buy expensive items you may need time to pay. If used wisely, credit cards can be a reliable resource, however, sometimes we are not aware of the fact that we are spending. Some may think that if they can make the monthly payments, then your debt is under control. This is not always the case. These are some signs that may be in or going in the direction of having a serious financial crisis.
* You can use your savings to pay monthly bills. * You pay only the minimum monthly payments on any of their credit cards. * Taking cash advances to pay their credit card bills or other bills you may have. * Is above or near their credit limit on a or more credit cards. * Has been turned down for loans. * You receive calls or letters from collection agencies. If you think you may have a debt problem, there is help.
Credit counselors are trained to help you get out of debt in a very short period of time. Some may even help make you debt free in as little as 18 months. Your individual situation may have more or less time. Even if you have good credit, but have taken wise decisions when using your credit card and want to keep your good credit, you benefit from credit counseling mat. Many credit counseling agencies will provide free debt analysis to help you understand what actions you can take to restore your credit without bankruptcy.