If you are in high debt, it may be best to file for bankruptcy. This will allow you to enjoy numerous benefits, including relief from debt and potential lawsuits. In addition to these, declaring bankruptcy can be good for your health.
This guide discusses how this can happen:
Relief from chronic stress
Constantly thinking of bills, debt and lawsuits can lead to chronic stress, which can be harmful to your health. Studies have shown that chronic stress affects the immune system.
It can increase the risk of hypertension, stroke and heart attack. Further, when you are stressed, your muscles tense up. If this tension prolongs, it may trigger other reactions in the body, such as migraines.
Chronic stress may also lead to digestive problems, memory impairment and sleep problems.
Therefore, your health may deteriorate when you are in financial hardship. Luckily, filing for bankruptcy relieves chronic stress. You won’t be worried about being sued, receiving endless calls and mails from creditors or debt collectors coming to your home. In turn, your health can improve substantially.
Improves your mental health
Being in debt can affect your mental health. Besides stress, you may experience depression, anxiety and other negative emotions.
Your sense of security and success may be closely tied to your financial circumstances. Hence, when you struggle financially, you may feel like a failure. And this can affect your mental health.
Declaring bankruptcy gives you a fresh start – you can regain financial stability. You should also consider going to therapy and spending time with your loved ones.
Being in debt can affect your physical and mental health. It will be best to get legal help to file for bankruptcy to protect your health.