What Finances Mean To Your Health
Looking at all the self-help books online and seeing things about eat better, exercise more, don’t drink alcohol, don’t smoke and get better sleep are the main focal point to a better life. Did you know being out of debt is proven to live a healthier, happier and longer life? Bankruptcy might be a stressful thought, but did you know that people that have filed bankruptcy live longer and lead a happier life.
In a report by the National Bureau of Economic Research shows that winning approval for a Chapter 13 bankruptcy increases annual earnings by $5,562, decreases five-year mortality by 1.2%, and decreases five-year foreclosure rates by 19.1%. That report is based on an examination of some 500,000 bankruptcy cases filed in the United States.
Bankruptcy protection helps workers earn more by eliminating primary financial disadvantage to work on wage garnishment by creditors according to economist Will Dobbie and Jae Song. Chapter 13 bankruptcies are designed for people to avoid things like a foreclosure. This greatly reduces stress in their life. Dobbie and Song say that with the less stress in a person’s life, the longer life they live.
If you find yourself wondering what life after bankruptcy would be like without all the debt hanging over your head, call Castle Law Office at 816-842-6200 to speak with an attorney. Or you can email us and schedule your free consultation.