4 Signs You Can’t-Miss If You’re Drowning in Debt

Consumer debt loads are on the rise. But it seems like Canada’s worsening household debt is the new norm, Maclean’s reports. It’s interesting to note, too, how many people miss the signs. Don’t know if you’re way in over your head and drowning in debt? Read on.

You’re in denial

Do you often find yourself thinking about your debt only to push the thought out of your head? That may be a good sign that you’re deep in debt. If you find yourself lying to your friends and family just to chase away the concern and worry in their eyes over your spending habits, that may be another red flag. If you have creditors calling on you at all hours of the day, asking you when you’ll pay your balances, then those are all signs that you’re too deep in debt.

You don’t know how much you owe

If you don’t know how much debt you have, then that’s probably why it was so easy for you to fall into massive heaps of debt in the first place. Scrap that mindset and start listing down all your debt. Find out how much you owe to what company and when the payments are due. Use that as a guide to help you spend your funds wisely.

You’ve got no wiggle room in your budget

If you find it tough to pay for a bit of shopping fun or enjoy a pizza night out with friends without worrying about your budget, then your payments are stretching you out too thin. If you can barely afford to pay for these expenses and have little to no wiggle room in your budget, then that’s a sign that you’re barely hanging on. It may be time to consult with a debt expert at 4 Pillars. Explore all your options so you can get out of that financial rut a whole lot sooner.

You find it difficult to save

If you have too many payments that every bit of your disposable income goes back towards debt repayments, then that’s going to leave you with barely enough for your living expenses. If you can’t save because you’ve got a ton of debt, then go to a debt consultant.

How debt consultants can help

4 Pillars provides debt consolidation assistance. If you have a ton of credit card debt, consolidating them all into one plan and paying for everything at a low-interest rate can be an option and your one-way ticket out of debt hell. Call us today to know more about this and all your other options to deal with debt.