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Beyond lies financial trouble!
When meeting with clients at our Mississauga or Brampton offices I often see trends in the situations presented by people who have run into financial trouble.
Here are some of the most common warning signs that you are heading towards a financial crisis. If any of these things are happening to you, you need to take action now.
1.You are often into your overdraft on your main account, or in extreme cases you are always working below the zero line, and only catch up when your pay is deposited.
2.You have to get short term loans at "payday advance" or "cash stores" to pay your bills.
3.You can no longer approach your bank for credit and must go to high interest lenders to finance cars or for consolidation loans.
4.You have more than one credit card that is carrying a balance and you use one to pay the other.
5.You have no reserve, no savings of any kind, any interruption of your income would trigger a financial crisis after only a week or two.
6. Utility bills like electricity or gas are into arrears and are threatening to shut off services.
7. Collection action is affecting you. Phone calls and letters from collection agencies are hounding you.
8. Stress about money is affecting your relationships and your wellbeing, you can't sleep, you get into arguments about money.
If any of these warning signs are familiar you may be heading towards trouble. Taking action now may head off a crisis. Maybe all you need is to reduce expenses and stick to a careful budget. Maybe you need professional help. If you are dealing with any of the warning signs above call 310-PLAN and speak to a trustee today we can help you get back on track.
posted by Brian McIlmoyle @ 4:57 PM
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