Warning signs of too much debt

Are you in debt trouble? Read each item to learn the warning signs.

Instructions: Read each item and click those that apply to you. Then click Submit.

Warning signs of too much debt

Warning sign Applies to me
Your timing
• You’re always usually or always late in paying your bills.
• It takes you 60 or even 90 days to cover bills that you once could pay monthly.
• You juggle payments to keep creditors satisfied.
Your checking account
• Your checking account is frequently overdrawn.
• You can make only minimum payments on your revolving charge accounts.
Your paycheck
• You struggle with keeping enough money in your account between your direct deposits and sometimes will bounce a check because of it.
• You use payday advances.
• A small reduction in your income or an unusual expense would make you unable to pay all of your monthly bills.
Your credit cards
• Your credit accounts are usually at their maximum limits.
• You apply for more credit cards because you have reached the limit on the ones you have.
• You are spending more than 20% of your take-home pay on credit payments (not counting your rent or mortgage).
• Your loan or credit card balances stay the same or go up each month.
Your purchases and bills
• You’re still paying off purchases you made a year ago.
• You put off medical and dental visits because you cannot pay the bill.
Your savings
• You don’t have a savings account, or have stopped making deposits to it.
• You haven’t started saving for retirement.
Your emotions
• You are worried about your debts.
• You argue with your spouse or partner over bills.
Your shopping
• You sometimes wonder why you made certain purchases.
• You feel free to spend more after clearing up a debt.
Your living expenses
• You use savings or credit cards to cover everyday living expenses, such as groceries.
Your creditors
• You ignore the telephone or mail to avoid dealing with creditors.

Click the Next button for tips on dealing with debt.