Depression and Addiction after Bankruptcy

Depression and Addiction after BankruptcyAccording to the United States Courts, during the period from March 2011 and March 2012, over 1.5 million bankruptcy claims were filed. This number has decreased by 1%, but it reflects a significant problem. The states that are experiencing the highest bankruptcy rates are Alaska, Arizona, California, Hawaii, Idaho, Montana, Nevada, Oregon and Washington.

Causes of Bankruptcy

According to ClearBankruptcy, LLC, a debt relief firm, the following are several leading causes of bankruptcy:

  • Medical expenses
  • Loss of employment
  • Excessive spending including credit card bills
  • Divorce
  • Unexpected disaster such as earthquakes, floods or hurricanes
  • Avoiding foreclosure or loss of utilities
  • Poor financial planning
  • Student loans

In today’s tight economic times, people are falling victim to some of these conditions and feel that they have not other option but to file for bankruptcy.

Emotions Associated with Bankruptcy

Most people cannot anticipate that they will go bankrupt. While they struggle with their finances, they may have emotions and behaviors including the following:

  • Stress
  • Anxiety
  • Insomnia
  • Irritability

When people have to file for bankruptcy, they may have feel any of the following emotions:

  • Shame
  • Fear
  • Intimidation
  • Feelings of failure
  • A loss of self-worth and confidence
  • Depression

Struggling with these problems for an extended period of time can lead people to numb their problems through drug use.

Depression and Addiction

Struggling with a sense of failure, being embarrassed by a financial state and feeling that you have let others down all contribute to depression. Rehashing how you got to this place adds fuel to fire as does not feeling confident about how to move forward. Depression leaves you feeling numb and worthless, which often spur people to find a release. The fact that this release may be temporary does not factor into the equation.

In the case of a person who is engaging in a bankruptcy, spending your limited funds on drugs or alcohol may only worsen your situation. In addition, drugs and alcohol impact your physical health, can impact your job performance and may damage your relationships.

Getting Help for Bankruptcy, Addiction and Depression

It is extremely difficult to avoid drugs or alcohol when you are depressed due to bankruptcy, but there are other strategies that you can use to overcome these problems. Consider the following tips to help yourself:

  • Focus on what you have versus what you have lost in life
  • Recognize that there are more important things in life then material possessions
  • Learn how to manage your finances
  • Acknowledge your feelings and then move on
  • Be honest with yourself but also be compassionate

Reach out for help so that you do not make matters worse with drugs.

Help Avoiding Depression and Addiction

If you struggle with depression and addiction as the result of bankruptcy, the last thing you may feel you can endure is the expense of rehab. However, keep in mind what the cost is now to you and your family of your addiction. We can help, so please call our toll-free helpline today. We are available 24 hours a day to answer any questions you might have about rehab expenses. We are here to help.