While loans, credit cards, and financing options are helpful, and even necessary at times, too much debt can be overwhelming. It might even be detrimental to your financial well-being. There’s no shame in asking for help with debt that feels insurmountable. There are many great programs that help you consolidate or even reduce your debt. Here are 5 signs you need to bring someone in to help you get out of debt.

Paying off Debt Feels Impossible

Have you reached a point where you feel that there is no way that you could ever pay off your debt? Bringing outside help in this situation could mean debt consolidation, a financial planner, or another type of debt reduction program. Seek out several different options to see what will be the best overall solution for you so that you can begin to get out from under your debt.

You’re Struggling to Pay Basic Living Expenses

When your monthly debt payments start piling up, there is not a lot of room left to pay for groceries, bills, gas, etc. If you’ve started to worry about or struggle to pay for your monthly needs, it’s time to call in the experts to help you get back to a sustainable monthly budget.

You’re Taking Out Additional Credit to Pay Down Debt

Have you taken out a personal loan or transferred debt to a new credit card? While this can sometimes be a good strategic move, chances are that means that the debt has become too much to manage. Before you move your money around, check into debt relief programs or other debt help options.

You Can Only Pay the Minimum Payments

It might feel like paying at least the minimum payment is good enough, but the truth is that your interest will only grow. It could take you decades to pay off the debt for good. If you have reached a point where you can only contribute the minimum monthly payment for your accounts, it’s probably best to seek outside help.

You’ve Been Turned Over to Collections

If you have found your debt has been turned over to a collection agency, you haven’t reached the end of the line. There are still plenty of options for you to get yourself out of debt. Do your research, or chat with your Debt Collection Agent to see what you can do.

There can be a lot of societal shame in asking for financial help. But at the end of the day, it doesn’t matter what circumstances got you there. What matters is being in a place of having a manageable amount or no debt so that you can live life the way you choose - not controlled by monthly payments. At Viking Client Services, our goal is to manage debt in a way that brings dignity to everyone we come in contact with. Learn more about our philosophy on debt management.