No One Thinks They Have A Debt Problem
Debt is one of the easier things to go into denial about. No one ever seems to know how they got so deep into it; plus they forgot about all the “stuff” they bought and all the fun they had while they were piling on the debt.
If you have collection agencies calling you, you are paying the maximum interest rates on your credit cards, you are always paying your bills late and you can’t make your mortgage or car loan payments, you have gone too far with the debt, you need to make some corrections.
Do You Have A Debt Management Problem?
You make a good income, live in a nice neighborhood and you can buy whatever you want so how could you have a debt management problem? Creditors and debt counseling firms hear that story all the time; it’s a common attitude people have because debt is easy to be in denial about.
Don’t Deny It|Fix It
It’s not the end of the world if you have a debt problem; your world may get a bit rocky though if you stay in denial about it. If you pretend that you don’t have a debt problem, it’s not going away; you will just keep piling more and more of it on and eventually you will have to fix it.
Get Help Sooner Than Later
If you have come to grips with the fact that your spending has overextended your finances, and you accept the consequences of your debt, reach out, get help. There are numerous debt relief services available to help you develop a debt management program, consolidate your debt, contact your creditors or organize some debt settlements for you.
It’s In Your Best Interest To Correct Debt Problems
One of the worse parts about overloading on debt is that your credit scores get lowered and then you will encounter other financial problems. Low credit scores will take a lot longer to correct than you may realize, so you are better off working at keeping a high credit score.
Financial Problems With Low Credit Scores
With low credit scores you will be shut out, denied loans, pay higher prices for everything you buy, which leaves less money. When you are facing a mountain of debt, the last thing you want is to have less money in which to pay that debt off. Watch your credit scores; order your free annual credit score to see what your current score is so you have a base to work from.