Key takeaways
- You could be facing a debt problem if over 15 percent of your monthly gross income goes towards paying your non-mortgage debts.
- Relying on credit to pay for everyday expenses, consistently only making minimum payments, not having savings and increasing balances are all warning signs of having too much debt.
- Credit counseling, debt consolidation and debt settlement could make debt repayment easier and help you rebuild your financial health.
More than half of U.S. adults (52 percent) report that money has a negative impact on their mental health. Of those, 47 percent say being in debt is one of the leading causes of this negative impact.
Unfortunately, debt is so common that sometimes people underestimate it. It might be …
Read the full article at: https://www.bankrate.com/personal-finance/debt/signs-you-have-too-much-debt/