Law Office of Allan E. Dunaway, PLC

Can credit card debt cause post-traumatic stress disorder?

According to recent statistics, Americans have an average amount of credit card debt amounting to $15,800. This debt is causing Americans to suffer from an enormous amount of stress. In fact, some Americans are contracting post-traumatic stress disorder as a result of their debt.

According to one psychologist, he sees a trend in his clients where — during financial adjustment periods — they exhibit signs of PTSD, a condition that is normally suffered by war veterans. This prompted the psychologist to conduct a study on the connections that exist between PTSD and financial problems.

What the psychologist found was that 36 percent of millennial Americans, and 23 percent of Americans as a whole, show signs of a debilitating amount of stress about their finances. This results in pathological behaviors, feelings and thoughts, which are usually associated with PTSD. In the case of financial stresses, the psychologist has dubbed PTSD associated with finances to be Acute Financial Stress. The psychologist further emphasized the fact that Acute Financial Stress was not merely PTSD light. No, AFS comes with just as severe symptoms and it is just as debilitating to the victims as PTSD.

Kentucky residents who suspect that they are suffering from Acute Financial Stress may require more assistance than just going to a psychologist. These individuals might be of a benefit from the aid of a qualified bankruptcy attorney who can help evaluate their personal debt situation. An attorney can also help them navigate the process of resolving their debt, obtaining debt relief and/or filing for Chapter 7 or Chapter 13 bankruptcy proceedings.

Source: Shape, "Your Credit Card Debt Could Be Giving You PTSD," Charlotte Hilton Andersen, April 20, 2016

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