Debt Consolidation Can Improve Your Health

Anyone that has ever been in debt knows that it can make you sick. You can't stop thinking about it, you worry yourself sick about it, and you plan your whole life around it. Personal debt consolidation may be the key to help many couples relieve their debt pressure.

Ohio State University conducted a study that showed people with high levels of stress (due to their personal debt) reported poor health compared to individuals without debt problems. Stress from debt influences our personal relationships as well as our mental and physical health. Over 50% of reported divorces are due to financial trouble.

Money is the number one issue that couples argue about. People with an uncomfortable amount of debt are depressed, stressed, and have anxiety. Debt influences your self-esteem, shame, and makes people feel out of control of their life. Many creditors and debt collectors do not help matters with their aggressive style of collecting when bills are due. It becomes obvious why many Americans take their own life with the amount of piling pressure that comes from debt. Stress that is linked to debt has been proven to be related to violence, substance abuse, as well as other illegal activity.

Shopping is the primary addiction for debt. Approximately 80% of American adults suffer from this addiction. Research is showing 90% of these are women. Compulsive spending is related to low serotonin levels in the brain. Currently, there are drugs being tested to increases serotonin to treat compulsive shopping.

Another major concern is that people often seek treatment for mental and physical illnesses in an effort to control their debt. This more often than not leads to death or worse physical conditions. People generally will go against their doctor's orders to return to work sooner to address their medical bills and financial debt. This only increases re-lapse and re-injury. A survey that was taken in 2004 showed that 63% of Americans admitted that their debt was making their home lives miserable. An online survey conducted by a personal debt consolidation company called Consolidated Credit Counseling Services showed following statistics:

1.   59% of Americans paid only the minimum amount due on their balance for their credit cards every month. 2.   37% of Americans have taken cash advances from one credit card to pay the minimum balance on another credit card they own. 3.   62% of Americans that participated in the survey did not have a savings account. 4.   92% had no funds for emergencies. 5.   58% admitted that all of their credit cards or at their maximum credit limit. 6.   43% that participated in the survey reported a debt- to-income ratio of at least 50%.

The biggest problem is that Americans feel that they are doing well if they can afford the minimum monthly payments. This completely ignores the issues of high interest rates as well's total amount of debt owed. Once they look at the total amount of debt owed, the stress related issues start to begin. Many Americans do not realize that they can get personal debt consolidation that will end this stress and pressure and allow them to pay off their debt rather than the monthly minimum payments.