Although it is true that money cannot guarantee happiness, it can certainly provide peace of mind to most people in Florida and elsewhere. However, when things like credit cards are not handled responsibly, sleepless nights may follow. An interesting new study shows that more than 65 percent of consumers who suffer insomnia also have money problems that — in many cases — include credit card debt
However, different types of money concerns keep people awake. More than a third of those struggling with a loss of sleep stress about medical and insurance bills, while a similar number of individuals are concerned about the state of their savings for retirement. Rent, mortgage and student loan debts also matters of concern to a significant number of consumers, and then there is credit card debt that likely exacerbates the debt concerns of most.
When debt seems overwhelming, it is often difficult to find ways to tackle it, although remedies exist for most debt problems. Medical bills might contain errors, and in many cases, hospitals will negotiate health care costs. There are steps to take to organize multiple federal student loans, and creating a strict budget or taking in a roommate might help with mortgage or rent difficulties.
Then there is credit card debt. Some Florida consumers may try various available options to get credit debts paid while they try to avoid bankruptcy. However, many of them just spiral deeper into debt, not realizing that all unsecured debts such as medical and credit card debt can be discharged in bankruptcy. Discharging these types of debts may leave them able to meet other financial obligations. A consultation with an experienced bankruptcy attorney can explain the protection offered by the Bankruptcy Code and how to pursue a fresh financial start.
Source: fox5atlanta.com, “Money concerns mean sleepless nights – Story”, Dana Fowle, May 1, 2017