Frugal Tips

Frugal tips for all. Simple ways to save and earn.

Regardless of what credit advisors tell you, most people don’t need professional reduction help. With enough motivation, determination and self-discipline almost anyone can get rid of their debt without any professional help.

It might be easier to hire someone to help you out, but if you are already in debt, spending more money (even for a good cause) is the last thing you want.

Here are the warning signs that you do need professional debt reduction help.

The first warning sign is refused credit. If people whose job is to give you loans and credits refuse to do so, then you are in a serious trouble.

Your second warning sign is that you are having a hard time to even make minimum payments on your credit cards and as a result are skipping payments. Skipping payments is a very bad idea, because on top of everything else you have to pay you will be paying late fees. Besides, this will have a negative impact on your credit score.

If you lost track on how many credit cards you have and how much you owe, this is another sign that you need help. You can’t manage your finances if you don’t know how much you have to pay every month and how long will it take you to pay your debt off.

You really are in financial trouble if your car has been repossessed.

You may feel relief for a little while, because not having to make car payments every month may help, but unless you start taking your debt problem seriously, the nest thing you may lose will be your home.

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