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Are you experiencing the negative emotional effects of debt?

Many people face struggles in life. They may have family issues, relationship problems, health concerns or financial hardships that make their lives more difficult. For you, your debt problems have gotten to a point where you feel constantly overwhelmed. If so, you are not alone in that feeling.

Money problems can cause a number of emotional issues for those affected by serious debt. At first, you may have thought that you had your financial matters under control, only to look up one day and find that you have a tremendous amount of debt. Maybe creditors are calling, trying to collect, or maybe you simply do not have enough money to meet even your basic needs.

What effects can this have on you?

You likely already understand the obvious effects that overwhelming debt can have on you, especially if you can barely afford your necessities. However, financial problems may also lead to negative emotional effects in your life, including the following:

  • Resentment: If you have successful friends, you may resent them for having better financial opportunities than you. You may even resent yourself for ending up in such a difficult financial spot or resent a loved one who may be contributing to household debt.
  • Denial: It is also possible that you try to deny that you have serious money problems and hope that, if you ignore them long enough, they will go away, which is not a successful approach.
  • Frustration: Understandably, you may feel immensely frustrated because you cannot get back on track as much as you would like. The frustration may also result if your money problems started from an event outside of your control, like sudden job loss or a medical emergency.
  • Embarrassment: It is easy to feel embarrassed about money issues, especially around others who can afford more than you. You may also feel embarrassed because you worry that others are judging you for making poor money choices, even if that is not what led to your debt.

You may also feel depressed, anxious, stressed and other emotions that can result from having financial problems. Undoubtedly, you want to find a way to handle your debt and finally reach a point where you can get your life back under control. If so, you may want to reach out to a New Jersey bankruptcy attorney to discuss your available options.

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