Ask any Licensed Insolvency Trustee (LIT) and they’ll tell you: One of the hardest things about our job is seeing people wait too long to get help. When an individual or business owner waits too long for help, here are some of the things they may experience:
Stress on top of stress.
Statistics Canada1 indicates that the lives of close to 25% of adult Canadians are impacted by a high level of life stress on a regular basis. And according to the American Psychological Association2, money is the second highest cause of stress. Struggling every day to make ends meet or facing pressure from debt collectors is certainly stressful, but it’s not just the direct financial stressors that impact individuals. According to the Mayo Clinic, common effects of stress include lack of focus and motivation, fatigue and sleep problems, irritability, and anger. It is easy to see how these effects of stress can strain relationships, impact your ability to perform at work, and affect your health, causing even more stress.
According to this article posted on the Canadian Mental Health Association’s website, the top recommendations for dealing with stress involve taking action, talking about your problems, and taking steps to resolve them. Conversely then, delaying asking for help can result in continued or increased stress.