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Do you know the mental toll of excessive debt?

| Jul 13, 2021 | Bankruptcy

Debt is a crushing force that can have negative implications throughout nearly every aspect of your life. Yet, despite this fact, a lot of people try for years, sometimes even decades, to claw themselves out of debt in hopes of securing financial stability. The sad reality is that their efforts are usually unsuccessful, and oftentimes they just end up falling farther into debt. This means that these individuals have wasted years of time, money, and effort.

If you’re in that situation and are on the fence about whether debt relief options like bankruptcy are right for you, then you might want to take a closer look at the toll that debt can take on you and your family. Here are just a few of those effects:

  • Anxiety and depression: Research has shown that those who carry large amounts of debt are more likely to develop anxiety and depression. These mental health conditions can affect your ability to function on a day-to-day basis.
  • Irritation: If you’re struggling with debt, then you may find yourself excessively irritable. This can have a profound affect on your relationships with others.
  • Regret: Living with excessive debt is a daily struggle. This can lead to regretting the decisions that you’ve made in life, which in turn can fuel mental health problems like anxiety and depression.
  • Embarrassment: A lot of people who struggle with debt are simply embarrassed. They sometimes struggle to engage socially with their friends out of fear of discussions of money or having to spend funds, and this can enhance the feelings mentioned above.

Free yourself from the mental toll of debt

The great news is that you don’t have to live with these feelings anymore. You can choose to seek debt relief through personal bankruptcy, which will hopefully provide you with the fresh financial start that you need. Hopefully then you can release the burden that has been placed upon you and find true freedom. To learn more about personal bankruptcy and what it can do for you, consider reaching out to a law firm that is experienced in this area of the law.