Call Now!
Call Us 414-326-9231 608-260-7133 Text Us 414-326-4709

Is credit card debt and depression linked?

Many people in Wisconsin have significant credit card debt. Living with credit card debt can take a big toll on your life, including your emotional and mental well-being. A new study found that credit card debt may impact your life much more than you realize. 

The study found that people living with credit card debt and have other unpaid household bills have an increased risk of depression. Researchers said that single people, people close to retirement and people with less education are more likely to have depressive symptoms if they have a lot of credit card debt.

Researchers said that this is the first study to analyze how different kinds of debt affect a person's risk for suffering from depression. They said that this study could help to new strategies to reduce financial stress as well as help mental health professionals understand some of the causes of depression if patients have a lot of debt. 

This is an important study to be aware of as credit card debt levels continue to increase among Americans. The study's findings are not that surprising. Living with credit card debt and not being able to pay your bills can be very stressful. Many debtors feel like there is nowhere to turn and that they have no options to get out of debt.

This is not true. Individuals struggling with credit card debt may be able to file bankruptcy to help them get a fresh financial start. There are strict eligibility requirements to meet but if you are eligible and your claim is approved, you can have your credit card debt discharged and will no longer be responsible to pay back that debt. 

Every bankruptcy case is unique and requires a skilled attorney to review the specific factors in your case.

No Comments

Leave a comment
Comment Information
Email Us For A Response

Free Case Evaluation

* indicates required field

Miller & Miller Law, LLC
  • VISA
  • Master Cards
  • Discover
Milwaukee Office map Madison Office map Kenosha Office map

633 W Wisconsin Ave, Suite 500
Milwaukee, WI 53203

Phone: 414-312-6581
Fax: 414-277-1303
Milwaukee Office

2810 Crossroads Drive
Suite 4001
Madison, WI 53718

Phone: 608-260-7133
Madison Office

6123 Green Bay Road
Suite 210
Kenosha, WI 53142

Phone: 262-326-1669
Kenosha Office

Appleton Office
4321 W. College Ave.
Suite 200
Appleton, WI 54914

Phone: 920-280-3838
Appleton Office

Brookfield Office
200 S. Executive Drive
Suite 101
Brookfield, WI 53005

Phone: 262-261-0665
Brookfield Office

Glendale Office
6333 N. Green Bay Avenue
Glendale, WI 53209

Phone: 414-973-8662
Glendale Office

Fax: 414-277-1303 - We also have offices in Appleton, Glendale and Brookfield to better serve you.