Castle Law Office Blog | Missouri & Illinois Bankruptcy Legal Blog

Warning Signs That You Are in Financial Trouble

Do you know the warning signs of too much debt? Many people out there think that if they aren't behind on all of their bills or if their debts are getting paid by new (and maybe riskier) ways, they are not in trouble. That is why I've put together some questions to ask yourself about your situation--if you answer yes to any of these questions, you are probably already in financial trouble whether you realize it or not.

Are you spending more than 20 percent of net income on credit card bills?

Are you dipping into your savings to pay your monthly bills?

Are you using credit cards to pay for necessities, like groceries, because you don't have the cash?

Do you have more than 2 or 3 major credit cards?

Are you overdue on any of your bills?

Have you been denied additional credit?

Think about the answers to these questions. Did any of the answers surprise you? Knowing what you know about your situation, would you lend yourself more money? It is time to request my free consumer guide, "Get Out of Debt: Secrets Your Creditors Don't Want You to Know."