Being in so much debt that you need to rely on short term loans to make ends meet has been claimed to be a symptom of stress from too much debt.
Life coach and hypnotherapist, Caroline Carr, recently said that psychological disorders such as anxiety, depression, and insomnia can be quite common for those that suffer from high levels of stress. These people often find it difficult to put their worries aside and relax because of these issues, said Ms Carr, and nothing can be more stressful than not having enough cash to pay your bills, which could necessitate taking out short term loans to bridge the gap.
The mental health expert remarked that stress releases toxins into the bloodstream, which are then absorbed by the liver. Individuals who fail to release these toxins properly can end up experiencing all sorts of unpleasant physical conditions due to this build-up of toxins, and worrying about finding cash loans to pay the bills can be a massive source of stress.
Those who need to take out short term loans on regular intervals may be using this lending to hide from quite serious financial concerns, according to Consumer Credit Counselling Service spokeswoman Una Farrell. Ms Farrell also said that these financial problems can snowball all too quickly and easily, as the ability of an individual to make ends meet on a month to month basis can be severely impacted in a detrimental manner by taking out short term loans.
As with traditional loans, short term loans require borrowers to repay the loan with interest, which means that the effect of not having enough cash on hand can become cumulative all too quickly.