Handling Debt Stress

Dealing with Debt Stress

When you’re in debt and can’t make your payments, handling debt stress can be overwhelming. On top of your financial difficulties, you may have lost a job or suffered a major illness or death in the family, or you might have gone through a difficult divorce. Even without any additional emotional trauma, the struggle to make ends meet while keeping order in your life can be too difficult to handle. Feelings of fear, anxiety, insecurity, helplessness, anger, and depression can make the situation much worse while making it very difficult to function at all, much less take corrective steps. The longer you try to deal with it alone, the harder it can get.

Join the Crowd

One of the first things you should do when feeling overwhelmed by debt stress is to recognize that you’re not alone. Thousands of other people are in the same situation or worse, and countless others have succeeded in getting past it. The first real step is getting help. Struggling with these problems on your own is never the solution. Not only are most of us ill-equipped to handle extreme stress without help, but most people in debt tend to make further mistakes.

Accepting What You Can and Can’t Control

Trying to maintain order in your life can sometimes help you deal with financial stress. The more control you have, the better, right? This may seem true, but it isn’t always entirely accurate. On the one hand, you want to keep working and avoid spending, and you want to do your best to avoid accumulating more debt. On the other hand, trying to stay in control of everything doesn’t always work, and when we lose that control we feel helpless, defeated, and often incapable of smart action.

Control is Only an Illusion

When you’re in debt, the simple fact is that it’s often impossible to control everything in your life, and only by facing this realization can we get relief from the constant struggle to attempt to control everything. While you want to be as responsible as you can, it’s also important to let go and accept that things have become unmanageable. This also means accepting help, not only from friends, family, and the community, but also from professionals who can provide an objective viewpoint. Depending on your religious views, ask either God or yourself for the serenity to accept the things you cannot change, the courage to change the things you can, and the wisdom to know the difference.

Being Honest with Yourself

Dealing with debt stress requires being honest with yourself and others. You must accept that you have financial problems, and that you can’t control the situation on your own. You’ve already tried to control it and failed, so now you must accept that you need help. Be honest with yourself and admit your situation to people you can trust. Talking about it with the right people will help a lot, and it will also prepare you to take action.

Get Emotional and Physical Support

Get as much emotional support as you can find as you organize your documents and financial information. Don’t ask people for money, but instead, ask them to listen to you. Let them know that you are planning to get the help you need and that you plan to do so cautiously so you can get on with your life. It also helps to practice controlled breathing, letting go of fixations, and meditation. If you have good insurance, you might wish to speak with a therapist. As you prepare to make a change, take walks and try to eat healthy food. Avoid excessive alcohol. Dealing with your financial stress may take every resource you can find. Once you are feeling calm, get free help from a non-profit credit counseling agency or debt consultant.

Proceed With Caution and Determination

Once you’ve made the decision to get help, take strength from your new found hope. Approach debt companies with caution and an open mind, and when you’ve found a plan that looks good to you, stick with it. Once you realize that no situation is hopeless and that with a little help you can make a change, you’ll learn how to replace stress with hope and patience.