When is the time that you cannot afford more debt?
- If you have been late in paying your bills more than once.
- You cannot afford paying unexpected cost as dental bills, car and home
- If you failed to open a checking account.
- Your credit score was reduced.
- Your credit card accounts are insufficiently covered by your payments.
- If you have a ChexSystems record.
- Because of insufficient funds, disposable income starts to be eaten by the
- Basic expenses are covered by cash advances more frequently.
The main step to repair the situation is to reduce expenses and use the extra
money left to reduce debt as long as no adding more debt.