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If credit card bills keep pouring into your mailbox every month--and you're starting to feel stressed about your financial situation--you may be wondering if it's time to get some debt help. It's not unusual for folks to seek some assistance if they're feeling overwhelmed by debt. Here are three signs that you may need to get help with your credit card debt:
You're borrowing from one to pay the other.
If your finances are stretched so tight that you're taking cash advances from one card to make payments on another, chances are you need help. "Borrowing from Peter to pay Paul" will, ultimately, just land you deeper in debt. If this is a temporary situation--you had an emergency expense or unexpected bill--you may not need assistance quite yet. But if this is a regular occurrence, chances are you could use a little help.
Your payments are late (or missing).
If you've skipped payments, or are regularly sending them in late, you're incurring some big fees. In some cases, credit card companies charge as much as $35 for a late or missed payment! This is only adding to your overall debt, not to mention your levels of stress. Regularly sending late payments or missing payments is a sign that you could benefit from some debt help.
You're getting demands.
Perhaps your creditor is calling your house every day, asking for payment. Maybe your account has been sold to a collections agency, and they're sending notices with big warnings in red ink. Or perhaps you've gotten a letter that tells you your account is in default, and your creditor wants the full amount now. If you're getting demands for payment, a professional may be able to help you end those hassling phone calls and notices.
If you've experienced any of these warning signs, consider consulting a debt professional to help you regain control of your finances. Their assistance may be just what you need to lower your monthly bills and start paying down debt.