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Nowack & Olson, PLLC Florida Bankruptcy Lawyer
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The many potential impacts of credit card debt problems

Struggling with credit card debt can be a very big deal for a Floridian. There are a wide range of different ways that credit card debt struggles can negatively affect a person. Today’s post will go over some of these ways. 

Some examples of things that can be negatively impacted in some pretty deep ways by credit card debt struggles are:

  • A person’s financial health. Falling behind on credit card payments could leave a person vulnerable to further financial struggles, lower their credit score, greatly limit their financial options (both in the short-term and the long-term) and expose them to very aggressive collection tactics.     
  • A person’s actual health. Research has linked credit card debt and high debt levels with a variety of different health problems, including high blood pressure, obesity and depression. 
  • A person’s future. Having overwhelming levels of credit card debt could impact a person’s ability to achieve their dreams for the future. For example, it could make it much more difficult for a person to buy a house, go back to school or start a business. 
  • A person’s relationship with their significant other. When a person is in a marriage or some other type of romantic relationship, having high credit card debt could be a potential source of financial turmoil and conflict between the person and their partner. Such turmoil/conflict can be quite damaging to a relationship.

As this shows, there are all sorts of aspects of a person’s life that credit card debt problems can have impacts on. This underscores how important finding the proper debt relief solution can be for a person when they are facing difficulties with this kind of debt. 

Now, finding the right way to address a given credit card debt problem isn’t always easy. The rules regarding the various different debt relief options for credit card debt can be quite numerous and complex, and thus the range of things that can impact whether a given debt relief option could help a person with a given credit card debt problem can be quite wide.

Thankfully, a person can seek out help when trying to address credit card debt struggles. Bankruptcy and debt relief lawyers are one source of guidance and advice Floridians can turn to when it comes to dealing with credit card debt problems. 

Source: Money, “5 Weird Ways Credit Card Debt Can Hurt You,” Lindsay Konsko, June 11, 2015

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