Is Debt Bad for Your Health?

Posted on: 25 Jul 2018
Laurence Hugo is the director of Credit Mediation Service Pty Ltd, negotiation specialist assisting consumer and commercial entities with debt problems and debt negotiations. If you feel like you’re over your head and you need guidance with the banks, contact the author: Laurence Hugo 1300 490 030, [email protected],


Some Australians live comfortably with extraordinary credit card debt, normalising it with ideas that everyone has debt, its apart of modern living etc. This is self-harming logic, its these people who will characteristically retire penniless and without the benefit of a retirement plan.

Other Australians have the opposite problem, debt can cause enormous stress to the point they become obsessed with paying loans off at the sacrifice of other essential bills.

I remember one client, a single mother of two children, told me she spends $80 per week on food for all three in the family, upon asking her how this was possibly, she said “Noodles and rice goes a long way”. If you are in this position, we urge you to reach out to a debt negotiator who specialises specifically in debt negotiations to help with debt.

It is a commonly accepted principle that stress can and does impact on your health. From our 20 years experience helping people in debt stress, 2 in 3 people who experience high level of debt will suffer from depression or anxiety disorders. From this group, over 50% will have considered, or attempted suicide, or self-harm at one point.

Suicide does not mean you want your life to end, suicide means you want your pain to end.

Some physical symptoms to depression is fatigue, loss of appetite, or hyper appetite leading to weight gain, insomnia, headaches etc. For many of our clients, it all relates to their debts.

In order to avoid depression triggered by your debts, you have two options. The first option is to give yourself a proper plan of attack. Depression in the face of debt normally comes from having no real plan to handle it. Drawing up an attack plan can help to alleviate any built up negative emotions you have about your debts. Setting up an overall plan with multiple smaller goals in mind can help put you on the right track.

Another way to help alleviate the depression that can come with debt is to seek professional help. If you have no head for taking care of your own debt, there is no shame in seeking the help of a professional debt relief provider. Debt relief companies specialise in contacting creditors and negotiating your debts down.

If your suffering from depression, or need to speak with somebody, call Lifeline on 13 11 14

If you need a debt negotiator, speak to us or connect with us at

If you want to find out how much you can save, try our debt calculator. or contact us.