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8 signs you may have a debt problem
Beyond Finance highlights eight key indicators that debt is unmanageable, urging action as 75% of Americans report financial anxiety linked to debt, experts say.
- In recent years Beyond Finance published an analysis unpacking eight common signs of problematic debt amid rising living costs, noting 68% of Americans worry about retirement and 45% struggle with debt weekly.
- Beyond Finance experts say debt becomes unmanageable when consumers only make minimum payments, use credit for necessities, or take on new debt to cover existing balances.
- Regular overdrafts and account dips before payday indicate trouble as consumers with checking accounts spend beyond income, while repeatedly borrowing from family and friends and shifting credit products perpetuate growing debt.
- When debt begins to shape decisions and wellbeing, people should act, as people who identify three or more signs often need to consult financial professionals and explore debt consolidation or relief options.
- These signs often arise well before a crisis, so early recognition helps people living with debt stress pursue early action and prevention measures that improve financial wellbeing and options.
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23 Articles
23 Articles
Coverage Details
Total News Sources23
Leaning Left1Leaning Right1Center20Last UpdatedBias Distribution91% Center
Bias Distribution
- 91% of the sources are Center
91% Center
C 91%
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