Financial Warning Signs

2 September 2014

Financial Warning Signs

Most of us can sense impending financial trouble but we tend to shy away from seeking professional help out of embarrassment or fear of being judged.   Licenced bankruptcy trustees and debt counsellors are there to help and should be able to provide you with financial counselling in a non-judgmental and professional manner.   The information they provide should help you better understand your financial situation and the options and resources that are in place to assist you.  This will allow you to make the best possible decision to resolve your financial concerns.

The following is a list of some of the more common warning signs:

  • Using credit cards for everyday purchases
  • Borrowing money or using payday loans between pays
  • Arguing with your spouse/partner about money
  • Having wages garnished for past due loans or taxes
  • Making only minimum payments on credit cards
  • Going into overdraft each month
  • Having payments returned non-sufficient funds (NSF)
  • Receiving collection calls at home and/or at work
  • Having utilities cut off for non-payment
  • Having vehicle repossessed for past due payments
  • Cashing in bonds or RRSPs to pay bills
  • Unable to meet small business payroll
  • Missing payments on rent, mortgage or utilities

If one or more of the above warning signs describes your financial situation then it’s time to get help.

For a free consultation over the phone or in person in Saint John, Moncton, Fredericton or Charlottetown, please contact us.  Powell Associates Ltd. is a licensed insolvency trustee  focused on providing debt settlement, proposal and bankruptcy solutions for individuals and businesses.