Advantage CCS Creates a Video on Top Warning Signs of Debt

February 27, 2014 (PRLEAP.COM) Business News
Advantage Credit Counseling Services published a video illustrating the top 10 warning signs that a person is in debt and should consider seeking financial counseling. The video lists each problem as well as its consequences. Advantage also shows what the preferred route would be in each situation.

For example, people who don't have savings, pay the minimum on credit card bills every month, often pay bills late, and spend more than they earn each month are heading into dangerous territory. With these habits, an unexpected life event, such as losing one's job or falling victim to a medical emergency, could send a person deep into the red in no time at all. Precarious spending habits simply aren't safe for long-term financial stability.

Budget and credit counseling services aren't just for people already in heavy debt. Financial advisors are available to teach people how to budget effectively, how far late fees are really setting them back, and how much they should be saving every month.

Smart financial planning is often just a phone call away, and even free financial counseling is only a click away. The difficult part is making people aware that they are in financial trouble before they are faced with real financial need. It may seem innocuous to live paycheck-to-paycheck for a while, but ultimately not having any savings and living beyond one's means is a recipe for financial disaster later on.

Many Americans are taken by surprise regarding debt. In America, 41% of people either have medical bill issues or are paying off medical bill debt. 61% of medical bills cause personal bankruptcies. Of the 66% of college students who graduate with student loans (an average of $25,000), 14% default within 3 years. It pays to get financial help before it results in major financial difficulty.

To learn about more warning signs of debt and how to face them, watch the full video:

Advantage CCS is a non-profit credit counseling firm that provides Debt Management Plans, bankruptcy counseling, financial education, and budgeting services. If you are struggling to eliminate your debt, contact a certified financial advisor at Advantage CCS:

Share Article