10 Signs of Over Indebtedness

1. The first of the 10 signs of over-indebtedness is if the amount you normally spend on your monthly living costs and instalments exceeds the amount of your monthly income or the salary that you earn each month. Moreover, the total value of the assets you own is lower than the overall amount you owe for all of your debts.

2. You cannot afford to cover your bills at the end of each month and accordingly skip payments altogether, come up short or pay in late.3. One of the 10 signs of over indebtedness you should be worried about is if you receive countless phone calls and endless SMSs from your credit providers demanding you settle your overdue payments. Furthermore, you avoid answering the phone or refrain from reading your SMSs anymore, out of dread that it may be your credit providers trying to contact you.4. Another of the 10 signs of over indebtedness that should wake you up is if you have received letters of demand or summonses in the post from your credit providers, or from debt collectors, lawyers or attorneys.5. You’ve had judgments granted against you in court.6. You borrow money from friends and family members to pay in your monthly instalments, and can never afford to pay them back, alienating your relationships with them. Thus, you avoid attending family gatherings, loved ones’ parties or events of relatives, out of embarrassment and awkwardness.7. Another one of the 10 signs of over indebtedness to be aware of is if you don’t pay your monthly instalments on certain accounts, so that you can use this money to make other debt repayments you consider to be more pressing.8. You are considering taking out a debt consolidation loan, undergoing administration or applying for sequestration.9. You are recurrently absent from work due to overwhelming debt stress, or are suffering from severe depression or anxiety due to the seriousness of your financial situation.10. The last of the 10 signs of over indebtedness you should be concerned about is if any of your debit orders have been rejected by the bank in the previous three months because you had insufficient funds in your account.