Five Signs You Need Debt Help Now

By 18th February 2021Financial Help
Debt News

Five Signs You Need Debt Help Now

Dealing with debt can be tough. You may feel hopeless as you worry about how to make your bank balance to stretch until payday and those final demands coming through your letterbox become more frequent. However, if you have money worries and your debts are mounting, it’s important not to bury your head in the sand. Seeking debt help is a wise and courageous move which can transform your life for the better. Here are five big signs you need help with your debts.

You Have Lots of Credit Card Debt

Many people use credit cards to make purchases, particularly online. However, if you don’t pay off your balance in full every month, you risk getting into trouble financially. Even if you’re making the minimum payment each month, you’re probably in debt trouble. You’re now in a position where you’ve bought things you couldn’t afford, have spent more than you are bringing in, and interest is building. You may need debt help to pay back what you owe.

You have payday loans

Payday loans are a way to get the cash you need fast. However, they are financially dangerous. Not only are they extremely expensive, with interest sometimes as high as 500%, but it can also be incredibly easy to become stuck in a repeat cycle. You may find yourself continually needing to borrow money to pay off the previous debt. If you’re regularly taking out payday loans, this is a big sign you need help with debt management.

You Don’t Open Your Post

When you’re struggling financially, it can be tempting to ignore the problem. Your post may go unopened as you fear yet another bill from a company you owe money to. However, this won’t make the debts go away. You still owe the money and your creditors won’t stop chasing you for payment. If you’re in this situation, it’s best to seek the debt help you need.

You’re Unsure How Much Debt You Have

One of the biggest signs you’re in trouble with debt is not knowing how much money you owe. You may have found yourself in a position where you have more debt than you can handle and are simply afraid to face it up to it. To gain a tighter grip on your finances, it’s best to add up all the balance owed on your credit cards, overdraft, payday loans, car loans, and so on. Finding out exactly how much you owe can allow you to create a plan and find a route of debt. Being honest with yourself is the key to proper debt management.

Get The Debt Help You Need

If any of these signs seem familiar, you may be facing serious financial problems. At Debt Assist UK, we’re here for you, with our team on hand to provide expert debt help that’s tailored to your needs.