Throughout the phases of your life, you may have dealt with different kinds of stress. You have pressure at work and struggles with your family, and any of these can affect your quality of life.

How does your debt affect your quality of life? For some, debt can make life dark and miserable while others pay their bills and enjoy their situations. You may be surprised to learn that not all debt causes stress for most people. Other types of debt, however, can be a tremendous burden.

Can you be happy in debt?

Many who own homes may not even think of their mortgages as part of their debts. It is a payment you must make for nearly half your life, in some cases, and if you get a good interest rate, the payment may not be overwhelming. Additionally, for many, the stress of a huge commitment like a mortgage evens out if it provides a comfortable home of their own.

The same may be true for a car payment. Few people can get by without a vehicle, so they see that car payment as a necessary evil. In fact, about 82% of vehicle owners say the payment does not affect their quality of life. Of course, your comfort level definitely relates to your ability to remain current on these very critical debts. More often, however, consumers agreed that the following debts can create stress in their lives:

  • Credit cards
  • Personal loans
  • Medical debt

These kinds of debts can quickly accumulate. They often carry higher interest rates and can be difficult to pay down rapidly. Additionally, it is not unusual for these kinds of debts to occur because of some emergency or unplanned for expense. This can play havoc with your budget and begin an endless cycle of shortfalls and more debt.

Finding relief from the stress

About 30% of people who have any kind of debt admit that it damages their enjoyment of life. Overwhelming debt, especially medical bills and credit cards, can create stress within your family and even lead to health issues.

Dealing with debt effectively can bring a brighter future to anyone who may be struggling to make payments and avoid some of the unpleasant consequences of falling behind, such as wage garnishment, repossession and foreclosure. Bankruptcy debt relief is one option to consider. However, before taking this step, you would be wise to speak with a knowledgeable Wisconsin attorney who can guide you in the most appropriate direction to resolve your debt issues.