Financial Warning Signs

September 2, 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.   Licensed 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.

Powell Associates Ltd. is a Licensed Insolvency Trustee. We are experienced, hands-on insolvency practitioners who understand the personal impacts of major financial stress;

  • You won’t be stuck in an assembly line process.

  • You will expect and receive prompt responses and resolution of issues from our supportive and experienced team.

  • We will review your debt solution options, including filing a consumer proposal or personal bankruptcy.

  • We help Canadians with overwhelming debt get fresh financial starts.

The collection calls can be stopped. Once you file a consumer proposal or personal bankruptcy, we deal directly with your creditors on your behalf. Your unsecured creditors are required to stop contacting you or continuing legal proceedings against you. Contact us for a free consultation.

We offer free consultations to review your financial situation and practical debt resolution options. Contact us to discuss your situation over the phone, a video chat, or in-person in Saint John, Moncton, Fredericton, Charlottetown, Dartmouth, or Miramichi.

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