Debt is money you owe to someone else. Being in debt is not necessarily a problem if you can afford to make your repayments each month. However, if you’re paying only the minimum repayments and are struggling to pay your household bills, you may have a debt problem. Here are some other warning signs to look out for, along with suggestions on where to get help if you need it. 1. You’ve missed several repayments Missing a single repayment because you can't afford it can often be attributed to temporary cash flow problems. It could result in you being charged for late repayment and may have a negative impact on your credit rating, making it more difficult for you to borrow money in the future. Missing several repayments in a row may be a sign that you're becoming overwhelmed by your debt.
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