Debt Warning Signs

At PayPlan, we have spent over 20 years helping people to deal with their debt and get on with living their life. This wide experience has given us a unique perspective on the warning signs that may indicate that someone is in danger of getting into unmanageable debt, and may need our help sooner rather than later.

What are the warning signs of possible debt problems?

These are not only danger signs of possible debt problems – many of them will lead to sudden increases in debts, with additional interest and charges being applied as a result.

Here are some of the most common debt danger signs and debt warning signs to look out for:

• Awareness and openness
  • Not knowing how much you owe in total
  • Not knowing how much interest is being charged on your debts
  • Hiding any money worries from your partner, family and friends
  • Losing sleep due to worrying about your finances
  • Leaving bills and official-looking post unopened
• Household bills
  • Regularly paying household bills after the due date, or missing payments on them
  • Falling behind on payments for rent, mortgage, council tax and utility bills
  • Paying your household bills on time each month, but running out of money for basic living expenses
  • Using savings to pay everyday living expenses and household bills
• Cheques and direct debits
  • Regularly bouncing cheques and direct debit payments
• Cash advances
  • Taking out cash advances on credit cards for household bills and living expenses
  • Using a cash advance on one credit card to pay the bill on another credit card
• Debt collection agencies
  • Getting calls from debt collection agencies
• Borrowing money
  • Regularly borrowing money from friends and family
  • Borrowing money to afford everyday essentials
• Cutbacks
  • Cutting back on essentials like food and heating due to lack of funds
• Minimum payments
  • Regularly only paying the minimum amounts on credit/store cards
• Debt consolidation
  • Borrowing to consolidate existing debts – especially if the new loan is at a higher interest rate
  • Not closing credit/store cards when you’ve paid them off – keeping the lines of credit open
• Payday loans
  • Taking out payday loans
  • Falling behind on payday loan repayments
• Credit limits and overdrafts
  • Frequently going over the credit limit on credit/store cards, or the permitted overdraft on bank accounts

Struggling with debts? Contact us today!

If you recognise some of these debt warning signs and you’re struggling with debts, contact us to find out about a wide range of practical debt solutions that help people deal with their debts and get on with living their life.

The best way to find out what makes us different is to call us free on 0800 316 1833 and have a chat with one of our fully trained advisors. They’ll listen to you and talk about you, your life, your debt and your aspirations. You’ll find them understanding of your situation and helpful in your search for a solution that’s right for you.

Call us today on 0800 316 1833 for confidential, no obligation debt help and advice. Calls to 0800 numbers are now free from landlines and mobiles.

Or you can complete and submit our online Debt Help form and we’ll call you back.

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