There is no doubt in the fact that debt and mental health have a direct link. It is also know that both may affect each other. It is important that you know about the link so that you can work on it. Follow the advice of professional debt advisors and even the health care professionals who might help you in this regards by a significant margin. There are several different approaches that you can take up to deal with your debt that is slowly becoming unmanageable and affecting your health, both physically and mentally.
In order to deal with your debts just as those people living happily with debts do, you can create and use a fact sheet. This fact sheet will help you in ways more than one such as:
- Help you to find out how your debts and mental health are affecting each other
- Make proper decisions as to whether or not to let your creditors know about it as well as the mental health issues that you are experiencing
- Choose between the variety of options that are available to you at NationaldebtRelief.com and several other similar sites to deal with your debts and
- Comprehend when you should use the Debt and Mental Health Evidence Form or DMHEF to deal with your debts and tell your creditors about the ways in which debt is affecting your mental health.
In short, this fact sheet and the knowledge you derive from it will significantly help you to manage your money, debts, financial and in turn your mental health.
Knowing about the links
In order to know about the link between your debt and mental health you will need to look a little deeper into the matter. According to stats it is found that about one in every four adults experience such mental health issue in a given year and in most of the cases these adults admit that it is all due to stress because of their inability to manage their debt or debts.
All these mental health issues cover a wide range of symptoms and experiences that includes:
- Schizophrenia and many other conditions.
However, health issues due to debt such as physical illness may greatly vary from one person to the other as it depends on the biological factor and the variance in the immune system greatly.
- It is also found that these mental health issues due to debt can last for a short period of time but in many cases it is seen to last much, much longer.
- Moreover, such symptoms and experiences may change with the passage of time or it may even change from day to day.
At this point it is also very important for you to know that according to experts, experiencing any mental or physical health issue does not necessarily and automatically mean that the person is not being able to manage their finance or deal with their debt efficiently.
Nevertheless, such health conditions will make things much more difficult. This fact is substantiated by several researches and studies that show about 50% adults who typically are struggling with their debts suffer from mental as well as physical health issues.
Follow the advice
Therefore, now you are sure that being in debt and not being able to manage it properly may lead to stress and in turn several physical and mental health issues. Even if you are not experiencing any such issues as of now, soon things can change, and change drastically.
It is better that you meet with an expert debt counselor to know about all the ways in which you can deal with your debts. Though it is suggested to meet such an expert as soon as possible, it is never late if you still have not. You will come to know that:
- There are lots of different options available to deal with your debts proficiently and prevent being in bad health, physically and mentally as well.
- All you have to do is follow their advice of the experts for the best results and optimal peace in mind.
- There is no reason to feel embarrassed or nervous when you meet such an expert to discuss about your debt and health condition.
These professional will maintain absolute privacy and provide you with free, useful, proven and unbiased advice. They will not be judgmental and not divulge your personal and financial information to other people or organization.
Go back to your fact sheet and focus on the info gathered from it. Try specifically to find out the ways in which you can deal with your creditors in the best manner. If you cannot find any clue then these professional experts will come to your help once again by a significant extent.
- They will provide you with several online advice and analytical tools
- They can even do it by themselves and send tailored information and fact sheets along with sample letters to use to talk to your creditors
- They may even talk to other relevant people with your permission of course about your debt relief options and discuss matters.
Everything that they do or suggest will be tailored according to your financial health, your affordability, your current situation and your permission.
When you partner with these professional advisors the most important benefit that you will get is that they will provide you with a breathing space by asking your creditors not to contact you for some time, say about 30 days. In case you find later on that you need some more time to get things in order, they can also arrange for an extension.
Summing it up
However, the best way to deal with your debt and to prevent health issues is to contact your creditors and tell them everything about your condition. This will help you a lot during negotiations that may provide you with some relief from the pressure of your debts.
It is ideal that you keep track of your finance and debt so that you know the right time to establish a link with your creditors to break the link between debt and mental health.