Many clients that I talk to tell me that they feel that the amount of debt they have is so small that they are embarrassed to be calling me to talk about it. So, how much is too much debt? This really is a relative question. For some people, $2000.00 may be a lot of debt, for others $200,000.00 may be a lot of debt. So how do we know when the debt we have is too much for us to handle? How do we know when we need help? Too much debt is when we find ourselves:
1.) choosing between buying groceries or making a payment on our credit cards
2.) working overtime on a regular basis to make the payments on our debt
3.) selling our furniture or other property in order to pay our creditors
4.) borrowing from family piggy banks and savings in order to pay for expenses
5.) choosing between paying our hydro or gas bills and paying the people we owe money to
Doing these things for a few months may be necessary to get us through a temporary lay-off or short-term illness, but if you find yourself doing this month after month, you may need help. If you are struggling with debt, please give us a call at 310-PLAN to book a free consultation or e-mail us with your questions. We are here to help you find a solution that works for you.
