prosperityseeker

Many folks ignore the warning signs and don’t think that they’re in any danger because of their credit cards. What they don’t realize is that any debt is too much debt and way too much debt can be bad for your health and happiness. But, how can you determine if you’ve got too much? It’s easy really.

Here is the test:

1. You can’t pay more than the minimum monthly payments on your cards.

2. You’re robbing Peter card to pay Paul Card.

3. You spend more time scrounging for new deals instead of making more income.

4. You’re considering taking out a payday loan or car title loan to pay your bills.

5. You’ve had to borrow money from family members to cover credit card bills.

6. You hide your credit card debt from yourself or your spouse.

7. Your credit report is the pits or you are scared to look at it because you know you owe way too much.

If you answer yes to any of these, you’ve got to get a handle on your credit. You’ve got to get in control of your finances before they wreak even more havoc on your life.

Some tips for getting out of this mess are to:

• Figure out how much debt you’re in.
• Use cash only and don’t take on any more debt.
• Devise a workable plan and pay off your debt by paying more than the minimum, negotiating for a lower interest rate, consolidating your debt, etc.
• Pay your bills on time.
• Keep older credit card accounts (even if you rarely use them open) However, if you can’t keep from using them, it may be better to close them out altogether.
• Have faith, you can get it paid off if you work your plan.

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