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 Insolvency 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 describe 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, Charlottetown, or Dartmouth please contact us. Powell Associates Ltd. is a Licensed Insolvency Trustee (LIT) focused on providing debt settlement, proposal and bankruptcy solutions for individuals and businesses.