Facing foreclosure can be an extremely stressful time in a person’s life. If you are struggling with financial difficulties, you may feel that you have little to no control over the situation, and you may dread the day when you receive further communication from your creditor.
Studies have looked into the data behind the most recent economic crisis and studied the link between neighborhoods going through a significant amount of foreclosures and the number of visits to hospitals.
A link between foreclosure and health found
In a study conducted by Princeton University, a link was found between spikes in foreclosures in neighborhoods and increases in urgent visits to the hospital, as well as visits for preventable reasons. The study stated that these increases could not be accounted for through unemployment or changes in health care plans.
How could foreclosure affect health?
It could be possible in some circumstances for ill health to lead to foreclosure. For example, a major cause of foreclosure is medical debt or lost wages due to illness.
The study suggests that many situations, ill health could be linked to unemployment and that foreclosure is a common outcome of unemployment. Those who are unemployed may feel extreme stress that could possibly contribute to ill health.
If you are worried about facing foreclosure, there are many positive actions that you can take to address your situation. Filing for bankruptcy will immediately halt creditor action and give you time to fight your debts in an effective way. This means that you will be subject to less stress, and you will be more in control of your situation.