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The health impact of financial stress

On Behalf of | May 16, 2023 | Bankruptcy

If you’ve been living with a lot of financial stress, you may be considering bankruptcy and other tactics to alleviate that stress. Maybe you just have more debt than you can afford. You need a fresh financial start because you know you’re not going to accomplish your goals with this debt hanging over your head.

One important thing to know, especially if you’re on the fence about using bankruptcy, is that living with this type of debt really is not good for you. It can have a major impact on your health. It’s not just a financial issue. It can actually change your life on many levels.

Common issues linked to monetary stress

Naturally, this is going to be a bit different from one case to the next, as everyone has their own physical ailments that they may be predisposed to. However, researchers have studied it and found that financial stress often leads to things like:

  • Problems sleeping 
  • Depression 
  • Anxiety 
  • Migraines 
  • Diabetes 
  • Heart disease

Researchers are quick to warn that this can only make the problem worse. For instance, maybe you have a lot of credit card debt. This leads to heart issues that put you in the hospital. Doctors give you medication and release you, but now you have extensive medical debt on top of the credit card debt. Your situation is only worse and the health problems that you face in the future – not to mention the financial problems – are only going to be worse than they were before.

This is just one reason why it’s so important to understand what legal options you have. You may be able to use something like Chapter 7 or Chapter 13 bankruptcy to get the fresh financial start that you need.