Consumers owe raising amounts of money from year to year. Besides different mortgaages and car loans, we have a big volume of other financial obligations, such as staggering amount of money on our  credit cards. 

This fact is due to the convenience of using the cards, which can now be used in many places, and simplification of obtaining loans from lenders. Banks are handing the cards out to just about everyone now, and everyone is using them to become knee-deep in financial obligations.

Most people accrue their bills over time through careless use. Once you realize that you owe more than you can repay, it can be too late.

Here are a few signs that can show your debt problems are out of control:

• Your savings account is empty. Financial experts recommend that you keep three to six months of savings on hand for emergency use.  You should be saving something every month.
• You make only mininmum payments on your credit card. Paying only the minimum will insure that you keep your debt for a long time.
• You aren’t using cash anymore for trivial things as movie tickets, fast food and groceries. 
•  You have one or more credit card accounts that are at, near, or over their limit.
• You are borrowing money from one account to make payments on another account.
• You have no idea how much you owe on your accounts.
• You are making payments late. This makes a bad situation worse, as it allows your lenders to raise your interest rates and assess late fees.

Each of the above items is a problem in itself, but if you find that more than one of those things describes you then you may have a problem. It doesn’t mean your situation is hopeless, but it does mean that you need to sit back and assess your situation carefully.  Take a look at your situation. If you can’t make sense of it, you may wish to discuss your finances with a credit counselor.