Ben Sissman, Attorney at Law
Free Consultation 901-730-4958
Toll Free 866-788-0394
Legal Services

Depressed Tennessee residents may also face credit card debt

Facing money problems can put a considerable strain on Tennessee residents' lives. Credit card debt can be a prime factor in a person having financial issues, and being unable to pay off such debt could lead to emotional struggles as well. However, individuals do not have to feel as if they are tethered to their debt forever. Management options may be available for struggling parties.

A recent report indicated that there could be a link between symptoms of depression and short-term debt. The report stated that individuals with credit card debt can find themselves under a substantial amount of stress due to the inability to pay their bills. As a result, their chances of depression may increase as their emotional state becomes overwhelmed by their situations. However, there is also the possibility that pre-existing depression could potentially lead to debt rather than the other way around.

Other studies have reportedly also found some correlation between individuals with poor mental health and debt. These links, however, have not been found between forms of long-term debt. It is speculated that in many cases long-term debt is considered more of an investment for the future rather than a burden on a current living situation, such as unpaid bills.

Credit card debt can become a seemingly unbearable situation for many individuals. If a Tennessee resident is also suffering from depression, the idea that debt can be overcome may seem unreal. Luckily, there are real options available for managing debt, and information on bankruptcy and other relief options may help individuals work toward a healthier and financially stable life.

Source: CNBC, "Does credit card debt lead to depression?", Tom Anderson, May 4, 2015

No Comments

Leave a comment
Comment Information

Office Location

Ben Sissman, Attorney at Law
44 North Second Street, Suite 403
Memphis, TN 38103

Phone: 901-730-4958
Memphis Law Office Map

Let's Start By Discussing Your Debt

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy