I read today in the Chicago Tribune, there are new studies that show that credit and money issues can make you very sick. Credit Can Make You Sick Story
This study said that 75% of people with credit card debt have some kind of physical symptom that they attribute to that debt. Headaches, lack of concentration and nausea were the most reported symptoms. Eight % of people reported seeking medical treatment for the symptoms
But maybe it goes deeper than even that.
Tremendous debt, or fear of debt, may stop people from even seeking treatment for a severe medical condition.
Right now I have a friend, an artist, who is experiencing a heart issue. He doesn’t have medical insurance, so seeking medical treatment will mean he goes into debt. That doesn’t seem to be something he’s willing to do.
I don’t get it. Isn’t the old adage if you don’t have your health you don’t have anything? Would I go into debt to seek medical treatment if I needed it? No question. Clearly medical treatment debt is good debt…what better investment than yourself?
Medical debts, in my opinion, are the softest type of debt to have to deal with as a negative on your credit report. What’s a better letter of explanation of the debt than, “I was very ill and sought medical treatment, as an uninsured person, this resulted in a tremendous personal expense. I’ve been making regular payments on this unexpected situation”
I’d give you the loan.
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