A Quick Financial Healthcheck...
How healthy is your current financial situation?
A lot of people juggle their money between different accounts and credit cards to cover loan payments and to allow for funds to clear etc. This method can work for quite some time but can end up being very risky and without realising you can find yourself getting deeper and deeper into debt all the while diminishing your capacity to pay it back!
Take a moment to ask yourself a few simple questions....
- Do you have more than one credit card, and are they "maxed out", or close to it?
- Do you use one credit card to make minimum monthly payment on another?
- Have you taken out a loan to pay out a credit card you are still using?
- Do you rely on your credit card to buy groceries because you don't have any cash in your account?
- Do you have creditors taking legal action against you to recover money owed to them?
- Have you applied for an increase in the limit of at least one card in the last 12 months, to give yourself a "bit of breathing space"?
- Do you feel overwhelmed by how many bills you have, or how much you owe?
- Are you too scared to sit down and work out how much you owe to your creditors?
- Have you ever contemplated Bankruptcy?
If you answered "Yes" to more than 3 questions...
Now is the time for action. Contact Financial Crisis Recovery NOW to arrange for your free consultation.
If you answered "Yes" to 2 or 3 of these questions...
You are in danger of being in a position of answering "Yes" to every question on this list! There are steps you can put in place now to avoid trouble later on.
Start by putting together your own budget - with that information in hand, you can assess how you can reduce your outgoings, or alternatively increase your incomings to reduce your liabillity to creditors.
Tip: Always maintain (written) contact with your creditors if you are having trouble paying them, larger companies have hardship packages they can offer customers, while smaller businesses will appreciate your honesty. Nothing irritates a creditor more than not being able to contact a debtor, and an irate creditor is more likely to send a sheriff to the door!
