Physical, mental and emotional effects of being in debt. How does debt occur?

Losing the job, failure of marriage, making a major purchase, this all can drive a person into debt. Regardless of how someone gets into debt, when resources are not sufficient to cover the expenses and the debt are perceived as unmanageable, it can have a negative effect on the well-being.

Many debt counsellors report about strong emotional responses such as.

• loss of self-esteem
• sense of inferiority and shame
• exasperation, embarrassment, hopelessness
• anger, frustration, aggression, violence Quotes by people in debt:
• “I stopped opening my letters and bills.”
• “I didn’t answer the phone for days.”
• “Whenever someone rang the doorbell, I was afraid it was the bailiff.”
• “I can no longer see a way out.“

According to Dr. H. Trommer, Dipl. Psychologist in Berlin, 30% of depressions caused by financial deprivation are associated with suicidal thoughts and behaviour. Some of the health hazards that may arise:

• Sleep disorders
• Tension headaches
• Lack in concentration
• Cardiac arrhythmia

Some of the people concerned flee into drugs and alcohol.

With small steps and patience, dedicated debt counsellors try to impart new hope, perspectives and courage to face life again.

(Summary by Gabriele Krings, debt prevention expert)