debt consolidation

When you should consider debt consolidation?

Your spending habits often lead you to borrow from your credit cards or other lines of credit. You work hard and you receive your pay check every month. Still you are unable to pay your bills. Here are some signs that indicate you have a cash flow problem and it may be time to consider consolidation of your revolving debt.

1. You are living paycheck to paycheck and unable to save any money.
2. You pay your monthly bills late.
3. You often miss your payment altogether.
4. You are getting calls from bill collectors.
5. You are unable to sleep at night and worrying about paying your bills.
6. Unable to save at the end of the month.
7. You have no savings that you can tap for an emergency.
8. You use credit cards or borrow from friends and family to pay your monthly bills.
9. You are taking a pay day advance loan from your next pay check.
10. You only can pay the required minimum balance on your revolving debt.

If you are faced with the above, it may be time to consider consolidation of your recurring debt, mainly credit card debt.