Are you in debt and suffering from stress because of it?  If so, you are not alone.  The stress and associated problems that accompany it are becoming a major pain in the neck -- and the back and the head and the stomach -- for millions of Americans.

The problem has become so prevalent that there is even a new name for  it – Debt-Stress Syndrome.  When people are dealing with mountains of debt, they're much more likely to report health problems, too which only makes things worse as people try to navigate their difficult situation. And not just little stuff like loss of appetite of trouble sleeping; this means ulcers, severe depression, even heart attacks.

It is estimated that there are between 12 to 16 million who are suffering some type of medical or health issue that is related to their debts.  And the tough economic times and rising costs of living are just making things worse.

In a poll conducted last summer, people reporting high debt stress claimed the following:

·         27 percent had ulcers or digestive tract problems, compared with 8 percent of those with low levels of debt stress.

·         44 percent had migraines or other headaches, compared with 15 percent.

·         29 percent suffered severe anxiety, compared with 4 percent.

·         23 percent had severe depression, compared with 4 percent.

·         6 percent reported heart attacks, double the rate for those with low debt stress.

·         More than half, 51 percent, had muscle tension, including pain in the lower back. That compared with 31 percent of those with low levels of debt stress.

People who reported high stress also were much more likely to have trouble concentrating and sleeping and were more prone to getting upset for no good reason.  Stress is very harmful to the body. Stress is an alarm system designed to get you to recognize a threat to your survival. When you're constantly worrying and stressing over your debt, you put your body in a constant state of alarm. The body responds by releasing stress hormones such as cortisol and adrenaline, resulting in increases in your heart rate, blood pressure, breathing pace, muscle tension, and inflammation, and dumping fuel (glucose, fats) into the bloodstream.

Revolving consumer debt, almost all from credit cards, now totals $957 billion, compared with $800 billion in 2004, according to the Federal Reserve and that can lead to a lot of stress for those who do not have the money to pay for it.  Sometimes it’s a health crisis that puts someone into debt but the debt can also lead to  a health crisis which makes the situation far more dangerous than just facing bill collectors.

If you are in debt and suffering undue stress, there are several programs that can help you BEFORE it becomes a health crisis.  Let the professionals at First Rate show you what we can do to get you out of debt and keep you healthy for 2010!

After the bankruptcy laws were changed in 2005, there was a drop in the number of filings each year.  But that drop was short lived as the declining economy pushes more and more Americans into filing for bankruptcy protection.  The numbers in 2008 were up over 30% from those in 2007.  These frightening statistics are all too real.

The real question now is after filing, how can you recover your financial well-being and get back on track?  First and foremost you are going to have to be patient.  It’s a long but achievable process.

1. Start by applying for a new credit card.  One with the lowest fees and rates you can qualify for.  Remember when you were in college and got your first card?  You were excited even though it was 30%.  That kind of card may be all you can get.  Take it and spend a little bit of money on it and pay it off every month.
2. Keep your debts at a minimum and make every payment on time.  This is critical to rebuilding your credit history.
3. After a year or so, apply for a another credit card with a lower rate and ask that the rate be reduced on the original card now that you’ve proven you make your payments on time.
4. Keep your balances under control.  Do not spend a lot on any cards or loans.  Part of a good FICO score is a low debt to available credit ratio.  Don’t buy anything you can’t afford to pay off in one month.
5. Don’t get sucked into any kind of credit repair scheme.  There is no magic pill to wipe out a bankruptcy.  It takes time and discipline.  The bankruptcy will stay on your credit report for 7-10 years but if you play your cards right, you can start to rebuild your credit before that.

The easiest way to recover from financial distress is to avoid bankruptcy in the first place.  Debt Settlement can often be the optimum solution to helping you avoid the long-term negative effects of a bankruptcy while still providing serious debt relief.  The key to a successful debt settlement program though is to get into the program before you are “bankrupt”.  Sometimes if you wait too long to address the situation, you leave yourself no option but to file. 

If you think you might be headed that direction, contact the consultants at First Rate for a free evaluation to see if debt settlement can help you.

Have you seen the movie? A typical Hollywood entertainment piece that depicts a young woman living in New York City who loves shopping and fashion so much that the mannequins actually speak to her and beckon her to buy more than she can afford. Today’s marketing tools are sometimes just as seductive enticing people to buy things that they both don’t need and can’t afford. After she maxes out every credit card and has no money to pay her bills, she ironically gets a job as a columnist for a money magazine.

The movie had all the right elements; the love story, the conflict, and the villain. The bad guy is a tenacious and nasty bill collector who calls daily and is stalking the poor girl trying to get her to pay her debt. For anyone who is actually living that nightmare, the movie would not be very entertaining but it did highlight the harsh realities of being in debt.

Of course, it had a “Happy Hollywood” ending where the girl was able to get herself out of debt with no help but that’s not how is usually works in the real world. In the real world, there is no easy way out but fortunately First Rate Debt Solutions has real solutions that do work for real people. Debt Settlement or Debt Management is the most effective way to get out of debt, escape the nasty bill collectors and avoid bankruptcy. Call us today for details on what we can do for you. 877-332-8730

The government’s historic bail-out of mortgage giants Fannie Mae and Freddie Mac should bring some much-needed stability to the mortgage crisis. But the move may not help all homeowners. Those who are already behind on their payments or who owe more than their homes are worth may still be in trouble. Those who have been “holding on” and hoping for some relief may be in luck.

Foreclosure rates in 2008 have hit record highs as homeowners who couldn’t make their payments walked away from their homes not knowing what else to do. But if you’re in financial distress, foreclosure isn’t your only option.

If you can’t make your payments, don’t wait until it’s too late to look for help. If you own a home, that’s your first priority. A foreclosure will stay on your credit report for years and Fannie Mae has already announced that it won’t back or guarantee a loan for you for five whole years from the time to default on your current mortgage. If at all possible, keep making your house payments! Your home should be your first priority and refinancing or renegotiating your mortgage may be a possibility with the bail-out.

The down-turn in the economy is affecting millions of Americans and if you are one of them, we have options for you. At First Rate, our highly qualified financial consultants can help you with your home loans, credit card debt, and help you find the program that will get your finances back on track. If you have excess credit card debt, we can help you pay it off for a fraction of what you owe and getting rid of that debt may be just what you need to save your home. Contact our experts today for a free evaluation.