The Church of England has compiled a post-Christmas debt check for consumers worried about how much their wallets have been hit by Christmas and New Year spending. It has also published a range of prayers for people living with debt.
“If a household can say ‘yes’ to any of the statements on the checklist, it may be on the verge of encountering serious debt issues, and should carefully consider taking some of the advice included in the pages of Matter of Life and Debt,” says the Church of England’s National Stewardship and Resources Officer, John Preston, who put together the Post Christmas Debt Check, and co-authored Matter of Life and Debt.
1) You need to get an extra credit card or to increase the spending limit on your current credit cards…..
2) You tried to get a higher credit limit on your cards recently, and have had your application turned down…..
3) You will only be able to pay the minimum on your credit cards this month…..
4) This month you will need to use one credit card to pay off another card…
5) You can’t face adding up your total debt, because it scares you…
6) You are keeping the cost of Christmas, or your total debts, hidden from your partner or your family…
7) You often feel anxious about money, in particular, how much you owe…
8) You used to have savings, but they’ve gradually disappeared…
9) This month you’re having to use credit cards for things you normally pay for with cash…
10) You’ve checked your credit card statement from a year ago – and you owe more now than you did then…
If you answer yes to 3 or more of these it is recommended that you consult a debt counselor. Check to be sure that you have contacted a non-profit or government sponsored agency – not a company that consolidates your debt by charging you even more money.
Read the article here.
HT to Episcopal Life Online.