416 College Street, Beloit, WI 53511
Toll Free: 866-925-CCCS
Take this test to see if you might need credit counseling.
1. Are you using your credit cards to buy groceries or gas?
2. Have you hit your credit limit on one or more cards?
3. Does the pressure of your debt distract you from your daily work?
4. Are you unable to save money for anticipated annual and occasional expenses? i.e., taxes, insurance premiums, auto repair, birthdays or holidays.
5. Are you screening your calls because of constant collector (creditor) calls?
6. Are you overwhelmed with medical debt?
7. Are you behind on your rent/mortgage and/or utility bills?
8. Have you borrowed money without giving consideration to the rate of interest you are required to pay?
9. Do you anticipate difficulty in paying monthly minimums on current credit card debt?
10. Are you unable to keep up with everyday expenses due to a recent job loss, reduced income and/or fixed income, illness or divorce?
11. I am unable to save at least 5-10% of my take home pay.
12. I do not know what I spend monthly on living expenses. i.e., food, kids, clothing, entertainment.
13. Have you ever transferred a credit card balance only to find yourself still unable to meet financial obligations?
14. I do not have at least one month of my net income in reserve for emergencies.
15. I am not able to pay more than the required minimum on my credit card.
16. Do your charge account balances grow each month?
17. Are you borrowing more money before the old loan is paid off?
18. Do you know why you always get turned down for credit?
19. Is there an increase in money arguments in your household?
20. Are you borrowing money on your credit cards to pay current bills?
If your answer is yes for any one of the questions above, you should take a closer look at your budget-it may suggest a need for credit counseling.
More than one yes may mean you need help in preventing debt problems.
A yes answer to four or more questions means you are in trouble.