How to spot the warning signs of debt trouble early: 6 signs you might need to fix your credit

Are you feeling the pressure of debt? Maybe you’ve missed a payment here or there, have a rising credit card balance or are struggling to pay your weekly bills. 

The good news? There are warning signs. And if you spot them early, you can still turn things around.

Here are 7 signs you might be heading into debt trouble and what to do if any of them sound a little too familiar.

You’re relying on credit cards to get through the month

If you’re regularly using your credit card to cover everyday expenses like groceries, petrol or bills, it might be a red flag. Credit cards can be helpful at times, but relying on them each month usually means your income isn’t stretching far enough and the interest adds up fast.

You’re only making minimum repayments

Making the minimum payment keeps the collectors off your back, but it won’t make a big difference to your debt. In fact, it could take years to pay off just one card if you’re only chipping away at the interest.

You avoid opening bills or checking your bank account

Sometimes out of sight out of mind feels like the best approach, however, if you’re avoiding your inbox or ignoring your account balance because you know it’s not going to be good news, that’s a sign you’re facing problems with debt.

You’re borrowing from one lender to pay another

Juggling loans or transferring debt from card to card might seem like a short-term solution, but it can trap you in a cycle that’s hard to escape. It’s a clear sign your debt is no longer manageable.

You’ve missed payments or received overdue notices

Even one missed payment can impact your credit score. If it’s happening often or you’re getting default notices, it’s time to take action before it reverts to court judgments or debt collection.

You feel anxious or stressed about money

Debt isn’t just a financial problem, it’s an emotional one too. When you’re losing sleep, feeling sick when the phone rings, or constantly worried about money, it’s a sign your debt is starting to really affect you.

You don’t know how much you owe anymore

If you’ve lost track of what you owe, who you owe it to, or how many accounts are open, things have probably gone further than you think. It can feel overwhelming, but getting a clear picture is the first step to fixing your financial problems.

Fix My Credit is here to help

If any of these signs sound familiar, it’s okay, we can help find the best solutions. You’re not the first person to fall into debt and guess what? You won’t be the last. 

At Fix My Credit, we help Australians fix their credit and find real solutions to debt problems. From removing defaults to negotiating with creditors and improving your credit score, we’re here to help.

Our services include: 

• Credit repair.
• Debt solutions.
• Credit default removal, court judgements and clearouts.
• Assistance in securing finance. 
• Debt negotiation. 

If you’re ready to get started, contact Fix My Credit for your free credit check. Chat to us (in person) and learn how we can help you reduce your debt and clean up your credit history.

Call us at 1300 654 044 or visit www.fixmycredit.com.au to book your free consultation.