Tag Archives: ConsumerDebt

How Could Debt Affect My Health?

Are you constantly stressing over your student loans, mortgage, vehicle payments or credit card bills? You may want to continue reading. Excessive levels of debt may be linked to serious health problems. When your body experiences high levels of stress, it releases the hormones adrenaline and cortisol. According to the Mayo Clinic, excessive levels of these hormones may cause digestive problems, sleep disturbances, heart disease and weight gain. Multiple studies have explored the possible link between debt and poor health. For example, a 2013 study conducted by Northwestern University discovered that young adults with high debt-to-asset ratios also had high blood pressure. According to the Centers for Disease Control (CDC), high blood pressure can increase the risk of suffering a stroke or heart attack. High blood pressure can also be difficult to spot without a visit to your doctor’s office, which is less likely to occur if you are suffering…
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What are the Possible Benefits of Chapter 13 Bankruptcy?

Depending on their individual situation, people filing for bankruptcy on consumer debts may choose between Chapter 13 and Chapter 7 bankruptcy. With a Chapter 13 bankruptcy, also called the “wage-earner’s bankruptcy”, you pay back your creditors during a three to five-year repayment plan. Depending on your situation, Chapter 13 may have multiple benefits. Stop foreclosure: If you are behind on payments and your mortgage lender is threatening to foreclose on your house, then Chapter 13 bankruptcy is very useful. Chapter 13 bankruptcy could allow you to stop foreclosure and become current on payments. Reduce unsecured debts: You may end up only paying pennies on the dollar for unsecured nonpriority debts during a Chapter 13 bankruptcy. After completing the repayment plan, these debts may be discharged. Reduce what is owed on secured debts: Depending on the circumstances, you may be able to reduce what is owed on secured debts if you…
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