Debt & Medical Issues

For many years it has been readily apparent to those working in the debt relief industry that many of our clients have a medical hardship.  This was recently confirmed by an article published by CNN:

http://www.cnn.com/2008/LIVING/personal/06/09/stressing.over.debt.ap/index.html

While we know that a medical hardship can contribute to rising amounts of debt what we often don’t realize is that the stress of dealing with debt can actually lead to an increase in medical issues. 

The CNN article summarizes findings from a recent poll conducted by the Associated Press-AOL Health.  This survey of just over 1,000 adults with debt found that:

• 27 percent had ulcers or digestive tract problems, compared with 8 percent of those with low levels of debt stress.
• 44 percent had migraines or other headaches, compared with 15 percent
• 29 percent suffered severe anxiety, compared with 4 percent
• 23 percent had severe depression, compared with 4 percent
• 6 percent reported heart attacks, double the rate for those with low debt stress
• More than half, 51 percent, had muscle tension, including pain the lower back.  That compared with 31 percent of those with low levels of debt stress.

Major medical issues often prove to be the catalyst in deteriorating personal financial circumstances.  However, based on the findings in this article it also appears that resulting high debt levels can exacerbate pre-existing medical issues or create new problems for those struggling with debt.

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