You do not have the most favorable financial health right now, and you may consider filing for bankruptcy. One factor or another may keep you from filing for now, but do you understand the emotional and mental toll that debt takes on you?
CogentBlue lists the psychological effects that financial problems often trigger. If any of these ring true, explore your options for getting your monetary health back on track.
Debt may trigger resentment aimed at your significant other if the two of you racked up your debt together. Your resentment may stem from feeling like your partner caused much of your money issues.
Depression and anxiety
Do you feel emotionally withdrawn, unfocused, constantly worried or disinterested in the things that once brought you joy? Debt may lead to symptoms of anxiety and deep depression. Consider seeking help from a therapist to address your emotional upheaval and develop healthy coping strategies.
Maybe you cannot decide whether to file for bankruptcy because you do not believe that you have money issues to resolve. Living in denial may serve as a buffer between you and the emotional reality of dealing with money issues. Looking away from a pile of unpaid and past due bills does not make them go away, it only makes them worse.
Have you done everything you can think of to improve your finances? Trying and trying without seeing concrete results could make you grow frustrated at your situation. Worse, your frustration may pave the path to irrational decisions and anger.
Your emotional self may find comfort and release in bankruptcy. Take a step toward financial relief and peace of mind.