Ian Wason, DebtBusters CEO, speaks to Fin24 on the debt spiral. Millions of South African consumers are unable to break free from debt and find themselves more and more indebted as time passes by. The average age of our clients has come down from the age of 44 in 2008, to 34. This shows us […]
27 November 2012
Are you finding yourself slipping closer and closer to the edge of insolvency? Are your debts mounting up and you have no idea how to deal with them?
Below are ten signs that can assist you in identifying whether you are heading for financial trouble. If you can identify with three of four of these you need to seek assistance immediately.
1. Using credit to buy things you used to be able to buy with cash.
2. Getting new loans or extensions to pay your debts.
3. Paying only the minimum amount due on charge accounts.
4. Receiving overdue notices from creditors.
5. Using savings to pay bills that you used to pay from checking.
6. Borrowing on life insurance with little chance of repayment.
7. Depending on overtime pay to make ends meet each month.
8. Using your checking account overdraft to pay regular bills.
9. Juggling rent or mortgage money to pay other debts.
10. Using credit card cash advances to pay living expenses.
For further assistance please contact DebtBusters on 0869 99 06 06 or have a look at our website www.debtbusters.co.za. Our friendly professional staff will be on hand to assist you in becoming debt free.