We all worry about money from time to time. Whether it’s a direct debit that’s gone out at the wrong time, your wages not stretching far enough, or you’ve got an unexpected bill that needs paying. Because we all suffer from money issues occasionally, it’s not always easy to spot when we might need real financial help.

And often, by the time we realize, we’re already in a spiral of uncontrollable debt and worry. Spotting the warning signs of debt is always the best option; that way, you can make changes before it’s too late. But what are they? Read on for the warning signs that you might have a debt problem. 

Early Warning Signs of Debt Problem

1. You Live in your Overdraft:

An overdraft is a useful tool that provides a little safety net of security in case you slip into difficulty. However, due to modern financial pressures, overspending, and sometimes simply struggling to make ends meet, many people find themselves living permanently in their overdrafts. This can create all kinds of issues, such as a default on your account, issues with your credit rating, and even a rise in fees.

2. You can’t Pay your Bills on time:


We all have bills that come around each month, and we dread them. Sadly, these things need to be paid for and on time. If you struggle to pay your bills on time or at all, you could be looking at a potential debt situation. If you are struggling to pay your bills, contact your providers to see what help they can give you.

3. You Can’t Sleep:

Are your money worries keeping you up at night? It’s a common characteristic of those who have a potential debt problem. Worrying about the future, your money, and if you’ll be able to support and provide for your family, it’s hardly surprising your money worries keep you tossing and turning all night. If this sounds familiar, then reach out to a debt advice company as soon as possible.

4. You’re Hiding the Issue:

Does your partner know the extent of the debt you or the family unit is in? If you’re hiding the mail before they open it or hiding phone calls from companies asking for the money you owe, you probably have a debt problem. Sharing the issue with your partner is important. So, speak with them when appropriate.

5. Debt Collectors are Contacting you:

Whether it’s by letter or by phone, if debt collection agents are contacting you, then warning bells should be ringing. Receiving these kinds of letters and demanding phone calls can be incredibly frightening; it’s only natural to stick your head in the sand. Sadly, this is when debt issues get worse.

6. You have more than one Payday Loan:

Payday Debt Problem

Payday loans are loans with high-interest rates that are intended as a quick financial fix for those who need a quick cash injection. The main idea of a payday loan is that you pay it back in full after you get paid. However, for those in debt, it’s not always that easy. High-interest rates and other financial pressures can lead to further payday loans being taken out. Making it impossible for any of them to be paid back.

7. You’ve Had Services and Subscriptions cut:

If you can’t afford to pay for certain services, then the provider has the right to cut them off and demand payment before they are reinstated. If you’ve had subscriptions and services, including your electricity or other utilities cut off due to a non-payment, it could be a warning sign of a debt problem.

8. You Can’t get any Credit:

A new laptop, a payment plan for another household appliance, a new phone, car, or even a credit card. If you can no longer get any credit due to your credit score and poor payment history, then it sounds like you may have a debt problem. Having a debt problem like this can completely ruin your life and prevent you from progressing and doing the things you want!

9. You don’t know How much Debt you have:

Debt Problem

Credit cards, payday loans, outstanding utility bills, overdrafts, interest fees, late payment bills, council tax arrears, bank loans, if you don’t know how much debt you have (or don’t want to know), could have a serious debt problem.

Final Thoughts:

Recognizing the warning signs of a debt problem is essential. Living in your overdraft, struggling to pay bills on time, sleepless nights, hiding the issue, debt collectors contacting you—these red flags indicate a potential debt problem. Take immediate action to prevent the situation from worsening and regain financial stability.

Jennifer is an Author and founder of General Queen. A Passionate blogger who has been around the blogging community for over 06+ years and still loves all things related to Wordpress. Love to building websites, writing SEO optimized content, and helping authors self-publishing.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.