WASHINGTON Consumers falling into the credit trap generally don'thave a budget and don't keep track of their spending. Some questionsto ask yourself: Are your expenses growing faster than your income? Do you have less than three months' take-home pay put away for anemergency? Are you taking money from savings to pay for credit? Are you taking out new installment loans before the old ones arepaid off? Are you paying bills in 45 or 60 days rather than on time? Are you taking cash advances on your credit card to cover regularliving expenses? Are you working overtime to cover credit charges? Do your installment loan payments equal more than 20 percent of yourmonthly take-home pay? Are you making only minimum repayments on your installment chargesand continuing to charge new items? Are you perilously close to the debt limit on all your charge cards?
If you find yourself answering yes to more than one of thosequestions, chances are you could use some help. Among nonprofitplaces to begin: The National Foundation for Consumer Credit Inc., Suite 601, 8701Georgia Ave., Silver Spring, Md. 20910. This parent organization ofthe 256 CCC&ES offices across the country can refer you to theappropriate CCC&ES branch and also serves as a clearinghouse forcredit information. Debtors Anonymous, patterned after the Alcoholics Anonymous program.For more information, call (301) 369-1535, or write DebtorsAnonymous, General Service Board, P.O. Box 20322, New York, N.Y.10025-9992.
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