Mounting medical bills, unpaid student loans, credit card loans and other debts are taking its toll on the health of American people. A research found out that the US household’s financial debt has increased dramatically.
It was also found out that higher debt is linked to a worse health condition. This is not surprising since a family in debt will have a hard time financing more medical check-ups and emergency room visits. The 2013 study also found out that high financial debt is linked to higher perceived stress and depression among individuals.
Another study found out that debt is associated with high blood pressure. The study involved students aged 24 to 32 years old. There was also a study which looked at the relationship between unsecured debt and mental and physical health. Some of the negative effects of the debt problem on health include obesity, drug and alcohol abuse, and suicide. The burden of managing a ballooning debt is clearly unhealthy for the Americans.
Desperation may send some consumers running to credit companies who, instead of decreasing the debt, take in more money leaving the debtor unable to complete the repayment. These companies may offer debt consolidation and debt settlement.
What makes the situation worse are the violations committed by debt collectors who repeatedly call a debtor at home or work. Resolvly LLC recognizes that unethical debt collection may cause emotional stress on consumers that could lead to anxiety, or worse, a case of depression.
Before matters get worse, consumers and debtors should be armed with the knowledge of consumer rights and options that they can take to get out of the debt problem fast. According to Resolvly LLC, a debt resolution company, debtors should know about their rights under the Fair Debt Collection Practices Act.
Under the law, debtors are protected from harassing calls of collectors, threats of using violence, using obscene or abusive language, sending court-like notices, trying to collect payment over the phone, publishing a list of non-paying consumers, among others.
The experts at Resolvly LLC sees that consumers can overcome the stresses of debt problems with the help of a team that provides a fast, safe, and legal method that aims to dismiss the debt through debt validation. Debt burden might be part of the people’s daily lives but there should always be ways for people to alleviate the problem and take out the fear that comes in dealing with debt.