How Bankruptcy Can Relieve Stress

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Your mounting debts could be doing damage to more than just your savings. That’s because financial problems can lead to stress, which can cause health issues. As the bills pile up, you may find yourself feeling worse both mentally and physically. And it’s not a good idea to ignore your debt problems and hope that they will simply go away on their own. The truth is that those harassing phone calls from creditors, the letters from collection agencies, the court-issued judgments, and the foreclosure notices are going to continue and, in many cases, multiply going forward. You need to take action now.

One of the best ways to reduce your potentially unhealthy levels of stress is to speak with a qualified bankruptcy attorney who can devise a solid financial plan on your behalf and help you take care of your debt problems. Moreover, the smartest financial plans often involve filing for bankruptcy and allowing the debtor to get a fresh financial start. In fact, filing bankruptcy can help you reduce your stress and recover from any stress-related health issues.

Debts Cause Stress and Health Problems

Your financial difficulties could be taking a serious toll on your body and your mind. Many people suffering from debt-related problems also suffer from stress-related health problems. That’s because people often tie their personal identities to their finances. When a person struggles financially, they may feel intense feelings of shame. Beyond that, a person struggling underneath a mountain of debt may also be afraid of what might happen next in their lives and worry over when their friends, co-workers, and family members will find out about their money problems. All of this can cause extremely unhealthy levels of stress. According to the Mayo Clinic, chronic stress leads to health problems that include heart disease, headaches, depression, digestion issues, and difficulty sleeping.

You may need to consider filing for bankruptcy. Bankruptcy could be your best chance of resolving your financial difficulties and reducing your stress. Although bankruptcy is often a good option for someone struggling with debts to regain control of their life and forge ahead with a clean financial slate, the reality is that many people are reluctant to explore bankruptcy because it carries a negative stigma. Do not be afraid to do what is necessary to reduce your stress and improve your life.

Whether it’s filing for Chapter 7 bankruptcy and liquidating your debts or filing for Chapter 13 bankruptcy and coming up with a plan to pay off your debts, bankruptcy can provide you with a solid solution to both your debt problems and your health issues.

Of course, prior to making any final decisions about what do in your particular situation, it is imperative that you speak with a knowledgeable bankruptcy and debt management lawyer who can look over your finances and help you determine the best course of action. Beyond that, a debt relief lawyer can also put your mind at ease and address any concerns you might have about the consequences of filing for bankruptcy.

 

If you are struggling with debts, bankruptcy may be an option worth exploring. Before making any decisions about your financial future, however, you need to talk to a qualified bankruptcy and debt relief lawyer. Joel R. Spivack, Esq., is an experienced bankruptcy attorney who can help you get out of debt. Contact Mr. Spivack now to schedule a free initial consultation.

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Attorney Joel R. Spivack is an experienced bankruptcy and residential real estate transactions lawyer in Cherry Hill, New Jersey. Clients come to us for legal services, but what we really provide is peace of mind. For more than 30 years, Attorney Spivack has helped people make wise, informed decisions about bankruptcy filings, debt relief options and residential real estate transactions.
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