5 signs that you're in a debt spiral
You are borrowing from 'sub-prime' sources
And if you have already started missing payments, then mainstream lenders are unlikely to want you as a customer at all because they view you as 'sub-prime'.
Consequently, being forced to borrow from a 'sub-prime' source - such as a loan shark – is a sign that it is definitely time to take some independent advice from one of the charities mentioned above, especially as the interest rates and penalty charges on debts of this kind are usually huge.
Next week we’ll look at how to get out of debt.
Every week, Clare Francis, financial journalist and editor of comparison site moneysupermarket.com will offer tips and advice on all things money-related to help iVillagers make the most of their hard-earned cash. From energy bills to car insurance; credit cards to children’s savings accounts; mortgages to discount vouchers Clare will show you how to make sure you’re getting the best deal.