You're already in serious trouble if you experience six or more of the following behaviors:
- Paying only the minimum amount due on your credit cards.
- Charging more each month than you make in payments.
- Using credit and cash advances for items such as groceries, gas, and insurance that you used to buy with cash.
- Having a total credit balance that rarely decreases.
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- Being at or near your credit limit and applying for new cards.
- Needing a consolidation loan to pay existing debt.
- Not knowing the total amount you owe.
- Experiencing feelings of anxiety and stress whenever you use your charge cards.
- Draining your savings to pay debts.
- Making bill payments late.
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Getting into debt over you head usually doesn't happen overnight. It's an insidious process. Answer the following questions to see if you're headed for a serious problem:
- Are your debts making your home life unhappy?
- Does the pressure of you debts distract you from work and sleep?
- Are your debts affecting your reputation?
- Do your debts cause you to think less of yourself?
- Have you ever given false information in order to obtain credit?
- Have you ever made unrealistic promises to your creditors?
- Do you ever fear that your employer, family, or friends will learn the extent of your indebtedness?
- When faced with a difficult financial situation, does the prospect of borrowing give you an inordinate feeling of relief?
- Has the pressure of your debts ever caused you to consider getting drunk?
- Have you ever borrowed money without considering the rate of interest?
- Do you expect a negative response when subject to a credit investigation?
- Have you ever developed a strict regimen for paying your debts, only to break it?
- Do you justify your debts by telling yourself that you are superior to "other" people, and when you get your "break," you'll be out of debt?
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