Potential Health Benefits of Filing for Bankruptcy

Health Issues And Bankruptcy

With so much negative publicity surrounding the word bankruptcy, it’s easy to read this title and think there is a problem with the wording. How could something that’s supposedly the end of the world be good for your health?

Keep reading and you’ll find out:

Debt Is Just Debt

It’s important to keep in mind that filing for bankruptcy is not something you should strive for, because it does mean that you have some very serious financial problems. It is also good to point out that debt is just debt, and doesn’t pose any real danger by itself, but the effects of carrying a high debt load are well-documented, and it always comes down to stress.

The Terrible Effects of Stress

When you begin that process where making bill payments becomes increasingly difficult, creditors call you several times a day and everything seems like it is spiraling out of control, stress will start changing you from the inside. It is very rare to find someone who isn’t affected by serious debt troubles at all.

Some of the potential stress health effects include:

  • Poor quality sleep
  • Drug or alcohol abuse
  • Depression and anxiety
  • Increased risk of heart attack or stroke
  • Frequent headaches
  • Muscle pain
  • Restlessness or inability to focus
  • Overeating or eating too little
  • Anger management issues
  • Social withdrawal

The list of issues is long and often combines many serious health problems, making the overall effect that much worse. Imagine feeling deep depression, along with excruciating headaches and chest pain. Or frequent anxiety attacks with sore muscles and withdrawal from your family and friends. It’s all possible if you don’t take some sort of action.

How Bankruptcy Can Help

If you’ve gotten to the point where one or more of these health issues have taken hold, bankruptcy can really change your situation. When you file for bankruptcy, your unsecured debt like credit cards, loans and lines of credit, are wiped clean. This means that overwhelming mountain of debt that has been sitting there is gone. You still may need help if you’ve developed substance abuse issues or other behavioral problems because of debt stress, but the debt itself is no longer there.

No one ever aspires to have financial problems so intense they inspire serious health problems, but if you’re at that stage, you need a solution. Bankruptcy is like a clean slate for some people, and even though your financial life will be affected for awhile, your health is worth it. Stop letting the stress control you and give us a call today to discuss your options.

Speak to an expert today.