The Human Side - Debt Stress

In all the technical discussion you hear about credit card debt, the best ways to manage it and pay it off and all the rest, one thing goes largely ignored. Credit card debt is extremely stressful, and can have a very negative effect on your life, if you let it. It's as bad as an addiction, always hanging over you, bringing you down, making it hard to life your life the way you want to. In this article, we'll take a look at how you can recognise debt stress, and what you can do about it.

The Symptoms of Debt Stress.

There are an awful lot of symptoms that can be caused by stress. Some of the most common ones are: headaches, not being able to sleep, feeling depressed and irritable, and being forgetful and unable to concentrate on what you're doing. If you're not sure whether your symptoms are related to stress or something else, you should go and see a doctor.

Who Gets It?

Almost everyone who has debts is stressed about them. Debt is blamed for millions of days off work every year, and is one of the leading causes of suicide - it seems like most times you read about someone who has committed suicide, their name is followed by "who owed [a very large amount] in debts". Students and graduates are especially vulnerable, as debt is growing amongst them faster than in any other group.

The average adult owes many thousands in debts - and since that's the average, it means that many people must owe much more. Never forget that you're not alone, and there's always someone worse off than you.

How to Deal With It.

Stress caused by debts is often considered to be embarrassing, or shameful. People with lots of debts don't want to talk about it, even with their family, for fear of upsetting people or looking like a failure. It is very important, though, that you do talk about your problems, as keeping it all inside yourself will make you much, much more stressed. It is especially important that you talk to your partner - they are the number one person who can support you.

The best thing to do then is to find two people: one who can advise you, and one who can be a counsellor. That means a professional who knows what they're doing in financial matters, as well as a psychologist or psychiatrist, or some other kind of counsellor. Don't let stigmas put you off - this is about your health.

The next thing to do is to have a good think about how you got that debt to begin with. See if you can find old credit card statements. What did you spend the money on? You need to sit down, work out a budget, cut unnecessary expenses and try to free up as much money as you can to pay back debts. Even if it'll be a long time before you get everything paid off, knowing that your debt is gradually going downwards can be an excellent cure for debt stress

Ken Austin is the webmaster at Debt Consolidation Solutions and Credit Relief Solutions

More Resources

Unable to open RSS Feed $XMLfilename with error HTTP ERROR: 404, exiting

More Debt Relief Information:

Related Articles


Debt Relief with this Simple Formula
Is there a way to get out of debt without getting a second job or having to increase your income in some way? Can the averageperson take his or her current income and pay off his or her bills in a matter of a few years, including the car and mortgage payments?The answer is YES!!! You can do it without having to cut out all of your fun and extra-curricular activities as well. Now, you may need to cut down on going to the movies or going out to eat, but you will not have to stop altogether.
Corporate Debt Management - Perspective on the Why
Entrepreneurs have a tough time in their formative years. They try too many things to get a foothold on this competitive business climate, and that too they try them too soon.
The Last Debt Solution Should Be Bankruptcy
A debt solution like bankruptcy should really only be used as a last possible solution. The problem with this solution of debt problems is that it includes a lot more than simply eliminating debt.
Worried About Debts?
Having trouble paying your bills? Getting dunning notices from creditors? Are your accounts being turned over to debt collectors? Are you worried about losing your home or your car?You're not alone. Many people face a financial crisis some time in their lives.
Are You Beating Up On Yourself About Debt?
When you hear the word "debt", whats the first thought or feeling that comes to you? For most people debt is "bad" or it becomes the "enemy" and is something that should be avoided like the plague.Having debt does not make you a bad person.
Debt and Financial Optimism in the UK Continue
With £1.3 trillion pounds worth of debt in the UK, Scotland's Citizens Advice Bureau has welcomed a new Bill to regulate lenders and protect borrowers from creating un-repayable levels of personal debt.
Questions to Ask a Credit Counseling Service about Debt Relief
Debt relief is a topic on a lot of consumers' minds these days, and with good reason. American credit card debt in 2001 was $692 billion, triple the amount from 1989.
The Five Most Popular Questions About Bankruptcy
WILL MY CREDITORS STOP HARASSING ME?Yes, they will! By law, all actions against a debtor must ceaseonce bankruptcy documents are filed. Creditors cannot initiateor continue any lawsuits, wage garnishees, or even telephone callsdemanding payments.
Help for the Single Mother with Managing Credit and Debt
Today's consumers benefit drastically from the usefulness of credit. Credit cards are especially useful for large purchases, emergency situations, making reservations, identification, and protection from fraud.
Credit Counseling or Bankruptcy: Which is Best for You?
People often get to a place where they simply can't pay their bills, especially in today's economy which is not particularly sympathetic toward the poor or even the middle class. Inflation has impacted nearly every facet of daily life including food, gas, rent, clothes, utility bills and more.
Drowning in Debt? Tips and Tricks for Getting Out of Hot Water with Creditors
Do you, like millions of other Americans, feel like you're sinking in an ocean of credit card debt? Well, fear not--there are many options for reducing your debt way before you have to be concerned about receiving notices or daunting telephone calls from debt collectors. The important thing to remember is to be proactive in handling your credit card debt.
Individual Voluntary Arrangements- A New Alternative to Bankruptcy
This May, the Department of Trade and Industry in the UK found that there were 10,091 bankruptcies in the first quarter of 2005. This represents an increase of 24.
4 Simple Ways to Solve Your Debt Burden
Getting BehindGetting behind on your debts owed can be a very frustrating and trying time for you and your family. Depending on how far behind you are, there are other repercussions, such as your credit rating, that will affect you further down the road.
Take Careful Consideration Before Filing Bankruptcy
Filing bankruptcy is not fun! It is a last resort if you are interested in keeping an active and acceptable credit report. Bankruptcy is the condition of bringing all your assets and deficiencies into an insolvent state.
Debt Getting You Down? - Make a List!
Debt is not much fun and when faced with it, people sometimes look for complicated debt solutions and often overlook the many simple ways that you can save money. Believe it or not, one of the simplest and most effective debt solutions is to get hold of a pen and a piece of paper and make a list.
Going Bankrupt in the World
It all starts by defaulting on an obligation: Money owed to creditors or to suppliers is not paid on time, interest payments due on bank loans or on corporate bonds issued to the public are withheld. It may be a temporary problem - or a permanent one.
Credit And Debt Relief--A One Stop Solution
Amy Wright, 34, was extatic when her realtor showed her the three bedroom townhome overlooking the lushious golf course. It was exactly the home she was looking for.
Is It Possible to Be Sued For My Debts?
It is possible for creditors and third-party collection agencies to use legal means as a way to collect debts. The likelihood of being sued or having your wages garnished depends largely on the creditor that is owed money.
Debt Elimination Is The Key to Financial Freedom
If you want financial freedom, the first thing that you will need to do is to get rid of your debts. After all, as long as you owe money, you can't consider yourself to be financially free.
Debt Relief -- Why Most Programs Have A 75% Failure Rate
Debt consolidation, equity loans, credit counseling, debt management plans, even Chapter 13 bankruptcy - it doesn't matter which of these debt programs you're talking about. They all suffer from one fatal flaw, the number one problem that causes most people to fail at eliminating their debts through these techniques.