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Hyde Park, Eastgate, Fairfield, Covington: +1-513-723-1600
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Hyde Park, Eastgate, Fairfield,
Covington:
+1-513-723-1600
Portsmouth:
+1-740-300-2022
Call For A No-Pressure, Free Consultation

Full Service Bankruptcy
And Debt-Relief Lawyers

Dealing with the emotional aspects of being in debt

| May 18, 2020 | Bankruptcy

It may come as no surprise that dealing with financial challenges can be stressful and intimidating. Studies indicate that similar hardships could leave many individuals in Ohio struggling with feelings of shame or regret. Finding ways to overcome such feelings and focus on creating a plan to seek debt relief may seem challenging at times, but it could also be vital to safeguarding one’s financial future.

Studies note that around 75% of American households carry at least some form of debt. Although experts advise that certain types of debt may play an essential role in one’s life, the idea of being in debt can still be troublesome. A recent survey reports that many consumers say they experience feelings of shame and embarrassment about being in debt.

Studies suggest that when it comes to dealing with debt, focusing on emotions such as shame or regret may only be counterproductive. Finding ways to move past such feelings and shift one’s mindset toward finding a solution to the issues at hand could prove imperative. While in some cases, this process may involve creating a budget and cutting down on expenses, sometimes a more long-term solution may be necessary.

Individuals who experience significant levels of financial strain due to high amounts of debt could benefit from understanding they may have options to help lessen their financial load. For information on all the available outlets for debt relief and advice in choosing the best available path, a person could benefit from speaking with a bankruptcy attorney. An attorney can evaluate the situation a client in Ohio is facing and assist in developing a strategy to pursue relief from the trails of debt through the necessary outlets.

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