Don’t be surprised if credit card debt makes you sick

01.31.2010 · Posted in Debt

We all know that unpaid debt leads to feelings of stress and worry.

Now a study published in the American Journal of Health Promotion found proof that unpaid credit card debt is also linked to psychological and health risks, such as bouts of depression and a higher body mass index (BMI). It mgiht sound far feteched, but such health risks could actually lead to an increased risk of chronic disease.

The human psyche is so multi-faceted that the link between health risks and unpaid debt may be found in various unknown areas.

Firstly, it is important to note that unpaid credit card debt, no matter whether it is excessive credit card debt or not, causes uncertainty for the person who incurred the debt. There is a lot of uncertainty connected to unpaid debt. For example when and if the debt will be paid off, how much interest will be incurred and hot the repayments will be met. This uncertainty can lead to adverse psychological reactions.

Secondly, many consumers find it extremely frustrating to see part of their wage go straight towards paying off their credit card debt, and never be able to use it for themselves. The feeling of frustration becomes even worse when the unpaid credit card debt is quite large and the consumer feels like they’re not making any progress. In the worst case scenario, the reaction is like a child that wants immediate satisfaction – the consumer gets fed up with paying off their credit card debt and never having any money. People may get so frustrated that they end up in a vicious circle: They want to reward themselves with interest free purchases so they accumulate even larger amounts of debt.

In general, a large number of people feel shame when they think of their credit card debt. The unpaid debt represents their own failures. This ranges between failure to control our spending habits and “keeping up with the Jones’” to the extreme case of failing to provide for our family. Feelings of shame are usually magnified when other people become involved in managing a person’s credit card debt problem.

Credit card debt is about more than just money – it involves our emotions, our psychology and our attitudes.

Learning about the psychological aspects of debt can be scary for many people – but it really is a prerequisite for solving your credit card debt problem. You’ll feel indescribably free once you reaslise that reducing your credit card debt, and paying it off, is actually easier than you thought.