People are sometimes nervous about filing for bankruptcy. It feels like a big, stressful decision. They’re not sure if they’re willing to go through with it, and they worry about the impact it could have on their health.
However, some research suggests that bankruptcy could actually be good for a person’s health. After all, it can reduce the chronic stress they’re feeling from not being able to pay their bills or make ends meet. Having debt hanging over their head can put them in an endless state of stress, even when they don’t realize it. Using bankruptcy to eliminate that debt and get a fresh start could then be helpful to them, and their overall health may improve after the bankruptcy.
The toll that stress takes
It’s important to remember that constant stress can take a major toll on the human body. It makes people more susceptible to illness and other ailments. In some cases, it can actually increase the odds of certain medical emergencies. For instance, someone living under constant stress may be more likely to suffer from a heart attack.
And it’s not just the realistic stress of having to pay back money that is unaffordable. Researchers also point out that there can be a social stigma surrounding bankruptcy and overwhelming debt. This can make people suffer from chronic anxiety, always feeling like they are being judged by those around them. This can make underlying poor health conditions even worse, exacerbating the person’s ailments specifically because they are in a constant state of worry.
There are many potential reasons to file for bankruptcy, and improved health is just one of them. Those who are facing debt need to know exactly what legal steps to take and what options they have.