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Contents

How to Consolidate Student Loans

How to Reduce Student Loan Debt

How to Defer Student Loans

How to Apply for Loan Forgiveness

How to Consolidate Your Bills

How to Freeze Your Credit Report

How to Get a Low Interest Rate Credit Card

How to File Taxes Online for Free

How to File for Unemployment

How to File for Unemployment in Texas

How to File for Unemployment in California

How to File for Unemployment in Kentucky

How to File for Unemployment in Michigan

How to File for Unemployment in Nevada

How to File for Unemployment in North Carolina

How to File for Unemployment in Ohio

How to File for Unemployment in Oregon

How to File for Unemployment in Rhode Island

How to File for Unemployment in South Carolina

How to File for Unemployment in Tennessee

How to File for Unemployment in Florida

How to Apply for Financial Aid

How to Apply for Financial Aid at Ohio State University

How to Apply for Financial Aid at New York University

How to Apply for Financial Aid at University of Southern California

How to Apply for Financial Aid for College

Be Stress Free, Get a Credit Consolidation Loan

Having too many debts brings a wide variety of problems. They will have to balance the repayment schedules and deal with many creditors. People with too many debts should also keep track of the different interest rates for each and every debt. There are also different repayment terms and penalties for each debt. The case becomes worse if the debts don’t have fixed interest rates. With all these reasons and more, it cannot be denied that having too many debts is one of the most stressful situations that a person could get stuck in.

As claimed by Elizabeth Carll, Stress and Trauma psychologist that’s based in New York, "As with any serious stress," debt does have an "impact on one's physical health."

Carll explains that financial problems can make a person susceptible to various kinds of diseases. People with debts are bound to have a "run-down, have more colds, migraines and headaches, (and) their current medical conditions may get worse." That is why if you have many debts, it will be best if you get a credit consolidation loan and lessen the life stresses that you have.

Recent Researches

According to a recent study conducted by the American Psychological Association, money is one of the top sources of stress for many adults in the United States. This source of stress becomes worse as more and more people lose their jobs and their income because of the nationwide economic recession.

As shown in the 2004 Survey of Consumer Finances conducted by the Federal Reserve, more than seventy-five percent of American families have debts and fifty-eight percent of this population has an outstanding credit card balance during the time of the survey. As the debt infested population continuously grows, the need for credit consolidation loan increases as well.

Debts and Stress

Lynnette Khalfani, a financial reporter and the author of the book "Zero Debt" notes that "debt takes its toll on people in many different ways”. She further explains that the implications of the stress may extend in various aspects of the debtor’s life - social life, relationships and health aspects. “For millions of people, financial worries and debt in particular are one of their biggest points of stress in their life," she concludes.

Carll also shares her experience: "I see a lot of people with various kinds of life events that are quite stressful, and invariably intertwined with this is a financial aspect." Many experts recommend the use of credit consolidation loans. They also state that the best time to get into a repayment program is when you start falling behind your monthly repayments. "If you feel you're not paying your bills and you have collection agencies calling all the time, you're going to feel a little bit out of control. It sets up a worry about the future,” Carll explains.

How Credit Consolidation Loan Works Against Stress

Kelly McGonigal, a psychologist from Stanford University claims that “Constant worrying over debt causes a lingering feeling that something bad is going to happen to you, so you're having this brain-body experience of stress all the time.”

With a credit consolidation loan, there will be no need to endure the stress of having too many debts. You can get a new loan and pay off all of your existing loans. You can also employ the help of a counselor. The counselor will deal with your creditors so you won’t be harassed nor will you receive threats. Moreover, you know that your debts are being taken care of so you’ll feel in control.