Debt Test - How To Know If You’re In Financial Trouble

Too many Americans continue to bury their heads in the sand, ignoring the fact that their credit card balances are growing, their savings account balances are diminishing, and their job situation is shaky at best.

Eaton Family Credit Union suggests that you take the following quiz. The results will reveal whether or not to seek professional help to avoid falling into a deeper financial quagmire.

With four offices serving Greater Cleveland and more nationwide, members can reach out to Consumer Credit Counseling Service (CCCS) where they will find a certified credit counselor ready to address their concerns. Mike Losneck, President, Eaton Family Credit Union believes, “Whether your problem stems from a lack of financial education, financial mismanagement, concerns over meeting the mortgage payment, or if bankruptcy is being considered, sitting down with a trained third party will add insight to the situation,”.

The first step toward a financially stable tomorrow is facing your situation today. Check each box to answer TRUE to any of the following questions, and then tally your score. See the suggested scoring at the bottom to determine whether or not you are a candidate for credit counseling.

I normally pay only the minimum amount due on my credit card bills.

My credit card balances increase each month.

There are arguments in my home about money.

I sometimes hide purchases from my spouse.

I frequently charge items that I previously paid for with cash.

I have thought about filing for bankruptcy.

I have begun using cash advances to meet my obligations.

Most of my credit cards are near the limit, so I’ve begun applying for new lines of credit.

I do not know the total amount that I owe.

I skip paying my bills some months, or pay late.

I have depleted my savings.

I am consumed with thoughts of my debt.

My debt interferes with my job and/or home life.

Collectors have begun contacting me.

I have taken money from my retirement account to satisfy debt obligations.

If I lost my job, it would mean an immediate financial crisis in my life.

I use balance transfers.

I have no emergency savings account.

Next month’s bills arrive before I’ve paid this month’s.

I do not open my bills when they arrive, or soon thereafter.

SCORING
Most people answer “True” to two or three of the above questions. If you answered “True” to four (4) or MORE questions then you would benefit from credit counseling with a trained and certified counselor.

Contact Consumer Credit Counseling Service (CCCS) 800-355-2227 or www.cccservices.com for a FREE comprehensive credit counseling session with a certified credit counselor.