Financial pain not the only pain debt trouble can lead to
On behalf of The Rollins Law Firm posted in Debt Relief on Monday, February 29, 2016.
There are many different contexts in which delaying getting the right help can be problematic. One such context is when one is struggling with credit card bills, medical bills, auto loans, student loans or other debt. Thus, going to a professional, such as an experienced bankruptcy attorney, for debt relief advice is something one should not put off when facing debt difficulties.
Why is it so risky to leave debt troubles unaddressed? For one, the longer such an issue is left without being properly addressed, the more painful it could end up being for the debtor.
Unaddressed debt struggles can expose a person to financial pain, such as reduced financial options, credit report/score troubles and lowered financial flexibility.
However, the kinds of pain that debt problems can cause a person to experience are not just limited to financial pain. For one, debt has the potential to be physically painful for consumers. At least that's what recent research points to.
Debt problems are one of the things that can cause a person to feel economically insecure. And a group of six studies found that feelings of economic insecurity (such as feelings of lack of control or employment insecurity) are associated with things like lowered pain tolerance, increased physical pain and increased painkiller spending.
The sooner a person seeks out help for troubles with debt, the sooner they can understand what steps they may be able to take to try to minimize or eliminate this potential source of financial and physical pain in their life.