For any person, debt is like this illness that never goes away, it persists and persists, never truly getting better until action is taken. The comparison works because like an illness, debt can cause a great deal of suffering and pain to those who have trouble paying their bills each more, or at all. Immunity against debt is non-existent, everyone is susceptible. Debt can go beyond simply the inability to pay bills on time, it can literally cause both physical and mental health problems.
Otherwise, honest people who are in debt have resorted to stealing, cheating, and lying in efforts to hide or eliminate their debt. The feelings it causes, it is enough to drive anyone insane. Those suffering from debit will likely feel a combination of shame, depression, embarrassment, anger, and anxiety. While physical and emotional problems occur out of massive debt, other negative side effects occur as well.
What are the other negative side effects? They include:
Bankruptcy
Although unfortunate, thousands of people daily need to file bankruptcy, seeking protection under the law. There are three types of bankruptcy, Chapter 7, Chapter 11, and chapter 13. Though...
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