Debt has become one of the major problems of many families worldwide. Failure to repay debt on time negatively contributes to the credit rating of a person aside from the fact it ruins family ties and relationships.
There have been lots of warnings about getting debt as it may cause greater economic and financial difficulties later on. But as the promise of instant luxurious life lingers on, many people are still encouraged and lured to take out loans which they regret later on. From a small amount of loan, it can grow into a 5 to 6-digit debt which you may find difficult to repay later on.
People who are surrounded by mountains of debt are usually plagued with lots of notices and letters from lending companies regularly. This makes their life even miserable. In the long run, it may cause the onset of depression which when left unaddressed can lead to suicide. In fact, more and more people are committing suicide due to their inability and difficulty in repaying their debts on time.
What Are The Most Common Symptoms of Depression Caused by Debt?
Aside from their debts, people who tend to borrow a lot still have a lot in common. They share a number of symptoms such as the following:
Feeling of guilt, hopelessness and helplessness when thinking about debt
Being intolerant and irritable with other people especially when talking about debt
Lack of motivation or interest in doing some particular things
Trouble in formulating decisions especially when it comes to repaying debts
Poor self esteem and low self-confidence
Change in appetite
Lack of interest to engage in sexual activities
Unexplained pains and aches
Loss of interest to engage in hobbies
Difficulties in dealing with people at home and in the workplace
Reluctance to participate in social activities and endeavours
What To Do To Fight Off Depression Caused by Debt?
According to research, around 9 out of every 10 people who are facing serious debt issues actually suffer from mental health disorders such as anxiety and depression. According to experts, depression is pretty normal to people who are confronted with high amount of debt. While some people are lucky enough to pull themselves out of this burdensome condition, there are others who are having a hard time dealing with it, which pushed them to commit suicide.
Running to Family Members and Friends
If you are in a troublesome financial difficulty right now, you are not alone! Many people had been on your shoes before they have managed to overcome their condition, moved on and succeed. Thanks to their friends and families!
Confiding your financial issues with your friends and families can help you feel better. You will need all the love and support they can give in overcoming your situation. In some instances, they can even help you formulate ways on how you can generate money to repay your debt. In situation like this, shame and embarrassment should be less considered. It cannot help you in finding solutions to your problems.
Call a Crisis Hotline
There are definitely lots of hotlines to call if you found yourself amidst depression due to the failure and inability of repaying your debts. If you are unsure about confiding your problems with a psychologist, therapist or a counsellor, calling these hotlines is definitely beneficial. They are expert at dealing with your problems and it is such a relief to divulge your problems with them. They can also help you in finding effective ways on how you can resolve your problem successfully. You don't have to reveal your real identity if you don't want to but you can get a lot of support and helpful advices from them.
Join Support Groups
There are lots of online and social support groups which can help you in finding solutions to your problem. Many members of these support groups have also been on your shoes before so there's really nothing to be embarrassed about. You all share the same experiences and from them, you will definitely learn your lessons.
More often than not, people who are suffering from depression due to massive amounts of debt feel that they are alone in their struggle. Lack of support from their environment usually triggers them to resolve their problems all by themselves, by committing suicide.
If you love a friend, be there for him or her. More often than not, people who regularly receive with utility bills, notices and letters from lending companies have poor judgment. They cannot think logically which may trigger them to contemplate suicide. Listen to his problems, talk to him and support him. This is one of the best ways to keep his spirit up and prevent him from considering suicide as a solution to his problem.