Quick Quiz For Credit Counseling

The National Foundation for Credit Counseling recently issued a True/False quiz to see if you’re a good candidate for credit counseling. Here’s the quiz:

1. I normally pay only the minimum amount due on my credit card bills.
2. My credit card balances increase each month.
3. There are arguments in my home about money.
4. I sometimes hide purchases from my spouse.
5. I frequently charge items that I used to pay for with cash.
6. I have thought about filing for bankruptcy.
7. I have begun using cash advances to meet my obligations.
8. Most of my credit cards are near the limit, so I’ve begun applying for new lines of credit.
9. I do not know the total amount that I owe.
10. I skip paying my bills some months, or pay late.
11. I have depleted my savings.
12. I am consumed with thoughts of my debt.
13. My debt interferes with my job and/or home life.
14. Collectors have begun contacting me.
15. I have taken money from my retirement account to satisfy debt obligations.
16. If I lost my job, it would mean an immediate financial crisis in my life.
17. I use balance transfers.
18. I have no emergency savings account.
19. Next month’s bills arrive before I’ve paid this month’s.
20. I do not open my bills when they arrive, or soon thereafter.

If you answered true to more than three of these statements you’re a good candidate for credit counseling. To locate the NFCC agency nearest you, go online to www.nfcc.org or call (800) 388-2227.

Published: Jan 30, 2008