If you answer yes to any of these statements, you have financial problems and are heading for trouble.

Danger signals:
• I am afraid to answer the phone because it might be a collection agency calling.

• I am spending 20% or more of my take-home pay on loans and credit card payments.

• I go over my spending limit or use credit cards as a necessity rather than a convenience.

• I only make the minimum payment on my credit card balances.

• I have received second notices about overdue accounts.

• Creditors have threatened to sue, repossess my personal property or hire a collection agency to recover their money.

• My wages are being garnisheed to pay for outstanding debts.

• I borrow money for household expenses from friends and family to make it from one pay cheque to the next.

The longer debt is ignored, the worse it gets and the more difficult it becomes to fix problems.

More Danger signals:
• I am renegotiating loans to cut monthly costs or looking for a consolidation loan to pay off old bills and a few new ones.

• I have received second notices about overdue accounts.

• My wages are being garnisheed to pay for outstanding debts.

• I am looking for a consolidation loan to pay off other consolidation loans.

• Utility companies have cut off service because of outstanding bills.

• I pay one creditor one month and another the next because there's not enough money to pay both.

• I pay excessive interest or service charges because I don't pay bills on time.

• Financial problems are affecting my health, job or marriage.