For most Americans, debt is part of everyday life. After all, simply existing can be expensive. If you have acquired a significant amount of debt, though, you may spend an equal amount of time worrying about repaying it.
On average, families in the United States have more than $6,000 worth of revolving credit card debt, reports Nerd Wallet. That amounts to nearly $421 billion in total credit card debt across the country. While having some debt is not inherently bad, too much of it can be downright crippling. If any of the following apply to you, you may want to explore your legal options.
1. You do not open your mail
A trip to the mailbox should not make your stomach turn. If you regularly avoid opening mail because you think creditors are trying to find you, your debt may be causing your quality of life to tank.
2. You have no idea how much you owe
Like many residents of Illinois, you probably have a mortgage. You may also have an outstanding student loan or a large credit-card balance. If you do not know how much you owe to creditors, though, your debt may be out of control.
3. You do not pay bills on time
Even wealthy people procrastinate. While putting off paying bills usually does not have many consequences, delaying payment because of a lack of money can be a real problem. If you regularly receive past-due notices, you may not be effectively managing your debt.
4. You have problems sleeping
Getting a good night’s sleep is important for your overall health and well-being. After all, if you do not sleep well, you may not be able to perform everyday tasks. If your debt keeps you up at night, you probably have more of it than you should.
5. You regularly borrow money from family
Asking your friends or family to borrow a few bucks can be both stressful and embarrassing. Still, if you do not have enough money to pay your monthly bills, you may not have many options. If you have asked for funds more than a time or two in your life, you may have too much debt.
Your debt probably does not have to weigh you down. If you have too much debt, you can be proactive to reduce it. After all, you should not have to constantly worry about keeping your head above water.