• Frequently pay bills after their due date.
• Regularly bounce cheques.
• Use an advance from one credit card to pay the minimum amount on another card.
• Receive a call from a collection agency.
• Regularly ask friends and family for loans.
• Have your utilities cut off.
• Have cut back on regular expenses such as clothing, recreation, even food.
• Are considering a second job to better manage your debt.
You can take steps to get out of debt. Identifying your debt load is the first step to breaking free, as well as making a budget and getting help. Consider talking to a budget advisor or credit counselor. Remember, you're not alone. People in debt can sometimes fall prey to illegal schemes to get them out of debt so do your homework. It pays to be smart with your money, even when it comes to paying back what you owe.
Industry Canada's Office of Consumer Affairs has developed an excellent online tool at www.consumer.ic.gc.ca/debt to help Canadians take control of their financial future. It's well worth a visit and it's free.
- News Canada
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