10 Warning Signs of Financial Hardship
Sometimes it’s not always obvious that you’re heading towards financial difficulties until it’s too late.
If any of the following warning signs describe your situation then it’s time to seek help from a licensed professional.
- Relying on credit for everyday expenses like gas and groceries
- Falling behind on utility bills such as phone and hydro
- Running out of money between pays and using pay day loans
- Taking cash advances from one credit card to pay another
- Arguing with family members about money
- Making only minimum monthly payments on your debts
- Not reducing your credit card or line of credit balances even though you pay as much as you can each month
- Cashing in your RRSPs or other investments to pay debt
- Receiving past due payment notices or phone calls from your creditors
- Staying awake at night worrying about your finances
Most people don’t want others to know about their finances so they avoid reaching out for help out of embarrassment and fear. However when they finally build up the courage to make that call or send that email, they usually feel a great sense of relief and are surprised to find out that it’s not nearly as bad as they had imagined; there are solutions.
When you contact a licensed trustee for advice we treat you with dignity and respect and help you explore your options to find the solution that best fits your situation.
For a free consultation over the phone or in person in Saint John, Moncton, Fredericton, Charlottetown or Dartmouth, please contact us. Powell Associates Ltd. is a licensed insolvency trustee focused on providing debt settlement, proposal and bankruptcy solutions for individuals and businesses.