5 Key Warning Signs That You Need Debt Advice

Thousands of people in the UK run into severe financial difficulties every year and many of them don’t look for debt advice until things have reached a crisis point.
 
There are a number of common warning signs that highlight the fact that money is becoming a problem. If these can be identified early enough and professional debt advice sought, it could save all manner of worries and anxiety further down the line.

• Unable to meet your monthly commitments – It may sound obvious but countless people don’t associate this major warning sign as being anything too serious. If you find that your income is exceeded by the bills you have to pay for whatever reason, then getting professional debt advice as soon as you can could stop the problem from spiralling out of control.
• Constantly worrying about your debts – Financial problems can have numerous harmful side effects from stress and anxiety to depression and insomnia. If you’re really struggling with debt it can take over your entire existence, leaving you worn out and feeling like there’s nowhere to turn. If money worries have got on top of you and are affecting your day to day life then you should seek debt advice as soon as you can which will help lift some of the weight from your shoulders.
• Borrowing up to your limits – If your bank overdrafts and credit cards are constantly maxed out then you need to examine the reasons why and how you can break the cycle. Many people in this situation simply apply for an overdraft extension or another credit card which only compounds the problem further. Professional debt advice could lead you to a solution so you don’t have to borrow from one lender just to pay another.
• Ignoring bills – Undoubtedly there’s still an element of stigma attached to being in debt in the UK. However, it’s important to note that you’re not alone and critical that you don’t let feelings of shame and embarrassment prevent you from finding a way out of your financial difficulties. Our debt advice is confidential and will explore all your debt solution options without having to divulge any details to family or friends. Ripping up or hiding bills when they arrive in the post is only going to make your debt problem worse.
• Arguing about money – It’s commonplace for one partner in a relationship to have debts that the other knows nothing about. There was a recent high profile case in Wiltshire where a widow was shocked to find out her late husband had around £30,000 worth of outstanding debt she had no knowledge of. Many people end up arguing over money and bills or the lack of income and it can sometimes be because one partner in the relationship is not being honest about the money they’re spending and debt they’ve racked up.
  

All of the issues listed above can easily escalate out of control if you’re unable or unwilling to take action and get the debt advice you need to address the root cause.

If you would like more information, ring Debtsolver now on 08000 434 336 (Free for UK residents only) or complete our debt wizard to see if you qualify