There are certain indicators of financial difficulties, such as receiving frequent calls or letters from collection agencies, having no savings, spending all your money before payday, stalling one creditor to pay another, using your credit cards or other loans to pay for everyday expenses, failing to budget or make a financial plan, having trouble making the minimum payments on your credit cards, and not knowing what your real monthly expenses are. There are many options to help you solve your money problems — such as consolidating your loans or making a consumer proposal. Be sure to seek professional advice from a Licensed Insolvency Trustee before you make any decisions.

Derek L. Chase, CPA, CA, CIRP. Licensed Insolvency Trustee, ChaseSekulich.com