Recognizing a Credit Card Debt Problem
Deciding enough is enough when it comes to out-of-control debt.
When it comes to your peace of mind and well-being, there really is no living with too much credit card debt. Credit card debt problems can cause you sleepless nights, daily stress, and unnecessary arguments in your household. Most people want to believe that if they just work hard enough they can beat their credit card debt problems on their own, but how do you know when it’s finally time to seek help?
You don’t have to live with credit card debt – there are options that can help you find relief! Call (844) 276-1544 to let a certified credit counselor assess your debt and provide you with options for debt relief.
How much debt is too much debt?
One question people often have with credit card debt is how to know when you have too much debt and need to seek debt help. There is no set dollar amount you can use to measure if you have too much credit card debt – depending on your situation and income, what’s manageable for one person may be a problem for another.
While there is no set dollar amount, often a good measure of your debt is your debt-to-income ratio. This compares how much debt you owe versus the take-home pay you bring in. If you’re spending the majority of your income each month to pay you debts, you’re probably not leaving enough for food, transportation, utilities and other bills, and everything else you need to live. If this is the case, even if you’re just managing to stay afloat and break even, it may be time to seek help to find relief from your debt.