Most Australians are carrying some debt, which prompts an obvious question: how do you know
when you’ve got too much and need help?
First things first: having a debt problem is nothing to be ashamed of. Life can be tricky, which is
why good people sometimes find themselves in bad situations.
It’s important to recognise if your debt position has escalated from tolerable to threatening –
because, if it has, and you don’t act immediately, it could eventually overwhelm you.
With that in mind, here are five signs you’ve got a debt problem and need help.
1. You’re being overwhelmed by credit card debt
Credit card interest rates can be extremely high, so it’s generally a good idea to pay your entire bill each month. At the very least, you need to make the minimum payment, which is usually about 2.5% of your total balance. If you can’t pay off that small share, your financial resources are probably at or near breaking point.
2. You’re falling behind on your mortgage
If you’re struggling to make your monthly mortgage payments, things are really serious. Banks
can become very hostile very quickly when people stop paying their home loan. The worst-case
scenario is that the bank will eventually seize your property so it can recover its money.
3. You’re receiving threatening letters
Generally, the first thing that banks, credit card providers, electricity companies and telcos do
when people fall behind on loans and bills is send a reminder letter. If that doesn’t work, they
often escalate to a warning letter. These threats are not to be taken lightly.
4. You’re getting calls from creditors
When creditors start calling, alarm bells should start ringing, for two reasons. First, creditors
won’t go to the trouble of making phone calls unless their debts are long overdue. Second, angry
creditors can make your life miserable.
5. You’re facing legal action
If you can’t pay your debts, creditors might respond by going after any secured assets (such as
your home or car) or taking you to court. Besides being costly and stressful, legal cases are hard
to win. The result might be that you get declared bankrupt and forfeit some of your assets.
How to solve your debt problem
We offer a service that helps Australians facing any of those five debt scenarios.
Solve My Debt Now staff don’t judge. They know that honest, hard-working people sometimes
find themselves in trouble and need help. Here’s what they do:
- Negotiate with creditors on your behalf
- Ask them to reduce your debts and interest
- Set up a regular payment plan to pay off your debts in three to five years or less
These negotiated settlements offer three main benefits:
- We do the negotiations for you, releasing you from that difficult and sometimes emotional task
- We advocate for reductions in your debts and payment plans you can afford
- We assist to clear your credit report of old black marks that might be blocking you
Solve My Debt Now does not have a maximum debt limit and can usually manage both secured
and unsecured debt.
The sooner you call Solve My Debt Now, the sooner you can solve your debt problem.
We Can Help You – Today
Book your FREE Consultation now and talk to one of our qualified SMDN Advocates that will help put you back on the road to financial freedom!