10. Dealing with a Debt Crisis

Sometimes the signs of debt crisis are pretty obvious: Collection agencies are calling you night and day, or your car’s been taken by the repo man, or your stuff is piled in the street because you’ve just been evicted.

But there were probably plenty of warning signs along the way. If you’re experiencing any of the following, you’re facing a debt crisis:

• You pay only the minimums—or less—on your credit cards and other bills.

• You’re borrowing from one card or credit account to pay another.

• You can pay your bills only because you’re draining your savings or retirement accounts.

• You’re near the limit or maxed out on all or most of your credit cards.

• You’re charging a larger amount each month than you’re paying ...

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