Bankrate.com

debt

8 signs you're flirting with financial ruin

Are you heading for a financial fall?
Next
1 of 9
Are you heading for a financial fall?

The line between a future of financial solvency and one of distress is thinner than you might think.

Unfortunately, many people don't realize they're on the wrong side of that divide until it's too late, says Jessica Cecere, South Florida regional president for CredAbility, a nonprofit credit counseling agency.

"I call it ostrich syndrome. You know that things aren't good, but you just don't want to face up to it right now," she says.

But the earlier you realize you're having issues with debt, the better chance you have of fixing them, Cecere says.

Bankrate offers eight signs you're flirting with financial ruin. If four or more of these signs sound familiar, it's time to seek help, Cecere says.

Cecere recommends looking for a free, nonprofit credit counseling service. You can search for a free or low-cost counseling provider in your area by visiting the National Foundation for Credit Counseling website or by calling (800) 338-2227.

Another alternative is contacting a fee-only financial planner. The National Association of Personal Financial Advisors maintains a database of fee-only planners on its website.

Here are the telltale signs you're heading for a financial fall.


 

 

advertisement

Compare Home Equity Rates



advertisement
Bankrate on Facebook
debt
Before you use your extra money for a mortgage or investing, think about your long-term goals.
advertisement
Share your tip to win $100Smart Spending
Are you a champ at cutting costs? Enter your tip in our Frugal $ense contest to be eligible to win $100. There’s a new winner every month.
Is your money safe?
or ? See your bank, thrift or credit union's star rating. Find one that's safe enough for you.
Partner Center
advertisement