Identifying a Debt Problem


Do you pay only minimum payments on your debts?
If you are only making minimum payments and can afford to pay more, you should! However, most cannot. Therefore they pay their monthly minimum payments and get no where at all! Your creditors increase your interest rates so high, that your balances go down very little! It's pointless, don't you agree?


Also, surely you know the creditors are charging you Compound interest, whereas the DMP will charge you Simple interested (savings of thousands).

Have you been declined credit or declined a credit line increase?
Being declined for credit is a good sign that you need to evaluate your finances. Creditors use guidelines to determine your credit worthiness and if they decline you, it means that they feel that your finances exhibit signs of trouble.

Can you account for the total amount of debt that you owe?
Do you avoid adding up the total of the amount of your outstanding debt?
If you can not account for the total amount of debt that you owe, you may be avoiding the problem. You must confront your spending behavior. Stop avoiding the pain of paying on your debt and establish a better repayment plan before the situation becomes unmanageable. You should get a Debt Analysis from ADF.

Are your Credit Cards at, or close to there maximum limit?
Have you ever attempted to make a credit card purchase and had the card declined?
If the answer is yes, it may be another sign that you are turning your cheek to the pain of confronting paying for credit card purchases. It is also a sign that you are not aware of your financial situation. If you were aware of your finances and understood how high your balances were, the situation could have been avoided. Your creditors assign a credit limit to you based on your credit history, outstanding indebtedness, and income. If you are at or near your limit it is a good sign that you are headed for financial trouble.

Do you purposely hide credit card bills from family members?
Hiding debt from family members is an indication that you realize that there is a problem. The fact that you feel you have to hide your spending behavior from loved ones indicates that you refuse to confront the situation, but realize there is a problem.

Do you float checks or bounce checks?
Floating checks is the practice of issuing a check in hopes that by the time the check is cashed, you will have the money in the account. Floating and/or bouncing checks is an indication that you are living paycheck to paycheck and your finances are in trouble. Floating and bouncing checks indicates that you are not fully aware of your financial situation.

Do you get collection calls from creditors?
Collection calls are a sure sign that you are behind on credit obligations. Don't avoid the problem. Start planning to become current again. We can make them stop calling! Legally, they will have to stop - if enrolled!

Are you dependent on cash advances to pay on your other credit obligations?
Danger!!! Stop immediately!! Your income can not support your style of life. Analyze your budget and make adjustments. You may need to seek outside help for guidance.

If you answered YES to any of these questions, click here.

We are here to help!
- American Debt Freedom