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8 Signs You Need Debt Advice Right Now

Don’t delay, get advice today.

It’s often difficult to decide whether we really have an issue with debt when we’re dealing with it. Anxiety can build up, life can get busy and then it’s hard to clear your heard and work out whether you really do need to speak to someone or not. However, there are some clear signs that you could be in trouble and should seek debt advice right now.

  1. You can’t pay your bills. These are the important bills that keep a roof over your head and the lights and heating on, for example. If your debt repayment means you can’t cover these key costs then it’s time to get some advice.
  2. You’re asking friends and family for money regularly. Debt repayments that eat into your disposable income each month could be leaving you without anything left for essentials like food and travel. If that’s the case and the only way you can cover these costs is by borrowing from friends and family then getting some help would be a good next step.
  3. Your debts are making you anxious. Headaches, insomnia, sweaty palms and an increased heart rate – if this is what you experience when you think about your debts you might benefit from talking to someone about a better way to handle your finances – read more about that here.
  4. You’re burying your head in the sand. If you look around where you live are there lots of unopened bills and demands? Have you had threatening letters from the landlord or found that you keep being charged for going over your overdraft limit? When the effort of meeting debt repayments means that you end up unable to deal with the rest of your financial obligations then it’s essential to take advice from an expert (find out more here).
  5. Credit is your only lifeline. For many people the reality is that monthly debt repayment takes up all of their income – which means that credit is the only way to make essential payments. The result may be that you’re getting into more and more debt just to live and this can be difficult to get out of.
  6. Lenders have started to turn you down. If you’re not getting accepted for credit anymore than that means your credit score has started to suffer. This could be caused by any number of different factors, including missing repayments or getting into too much debt. When your credit score starts to drop and lenders are no longer interested, debt advice could be a lifeline.
  7. You’re borrowing more just to make debt repayments. This is a vicious circle that can only end badly if you don’t get some help and support to start afresh.
  8. What’s going out is more than what’s coming in each month. This imbalance in your cash flow can be fatal for positive financial health and could well be caused by debt problems. Asking for advice on how to manage your debts could help you to introduce better financial balance.