The relationship between health, debt and bankruptcy

Sometimes we find ourselves in a negative downward spiral. Financial problems can lead to health problems, and health problems can then lead to more financial problems. Every situation is unique, but bankruptcy has been a solution that has brought financial relief for many caught in this situation.

A study by the National Institute for Health cited that 58.5% of people surveyed said that medical expenses lead to declaring bankruptcy. This is why it’s important to understand the connection between health issues and debt.

Ways that debt can be hazardous to your health

Scientists and researchers say that being in debt can cause mental and physical issues to arise. Let’s take a look at a few ways that this can happen:

  • High blood pressure: Seeing a rise in blood pressure is often a sign of stress over debt. High blood pressure is a risk factor for heart disease and stroke.
  • Anxiety: When the future is uncertain, anxiety is often the result. Wondering about how the financial dilemma will end is an anxiety trigger.
  • Depression: When feeling overwhelmed and hopeless, depression can come creeping in. Like anxiety can be caused by dwelling on the future, depression can be caused by thinking about past mistakes. It is more productive to focus on solutions.
  • Immunological problems: When we are under a load of stress, our immune systems can be compromised. In this way, stress can lead to getting sick.

There are many ways that debt can cause additional, and often unexpected problems to arise. Health issues are often a symptom and not the cause. Once someone’s overwhelming debts are handled, it is common for health to be regained.

If looking for a way to solve debt issues before they have irreversible effects on your health, it may be time to consider bankruptcy or other debt relief solutions.

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