5 Warning Signs That You May Need Debt Relief Assistance

CDH Can Help!

Living with debt can be overwhelming and stressful. Many Canadians struggle with debt and feel stuck in a cycle of borrowing and repayment. But how do you know when it’s time to seek professional debt relief assistance? This blog post will discuss five warning signs indicating you may need debt relief assistance.

      1. You’re Only Paying the Minimum Amount Due on Your Credit Cards

If you’re only making the minimum payment on your credit cards each month, you’re likely not making much progress toward paying off your debt. The minimum payment is designed to keep you in debt for as long as possible, and the interest charges can quickly add up. If you cannot pay more than the minimum payment each month, it’s time to seek debt relief assistance.

       2. You’re Using Credit Cards to Pay for Necessities

Using credit cards to pay for necessities like groceries or rent is a clear sign that you’re struggling financially. This can lead to a cycle of borrowing and repayment that can be difficult to break. If you find yourself relying on credit cards to cover your basic living expenses, it’s time to seek professional debt relief assistance.

      3. You’re Receiving Collection Calls and Letters

Receiving collection calls and letters from creditors can be overwhelming and stressful. If you’re being harassed by creditors, it’s a sign that you’re behind on your payments and may need debt relief assistance. A debt relief professional can help you negotiate with your creditors and find a solution that works for you.

      4. You’re Borrowing Money to Pay Off Other Debts

If you’re borrowing money from one creditor to pay off another, you’re likely stuck in a cycle of debt. This can be a temporary fix, but it won’t solve your underlying debt problems. Seeking professional debt relief assistance can help you find a long-term solution to your debt problems.

      5. You’re Stressed and Anxious About Your Finances

Living with debt can take a toll on your mental and emotional well-being. If you’re feeling stressed, anxious, or overwhelmed about your finances, it’s time to seek debt relief assistance. A debt relief professional can provide you with the support and guidance you need to achieve financial freedom.

Conclusion: Living with debt can be challenging, but it’s important to know when it’s time to seek professional debt relief assistance. If you’re experiencing any warning signs discussed in this blog post, it’s time to contact Canada Debt Help. 

We would love to help. If you’re struggling with debt, we recommend visiting our website at www.canadadebthelp.com and completing the questionnaire. Our team of certified counsellors is available during business hours to assist you with exploring your options and answering any questions you may have.