If a business says that they are in the red, this simply means that for that particular time frame their finances reflected more expenses than income. Consequently, the negative amount is reflected through the color red.
Additionally, when you think of the color red you think of this color as glaring, attention getting and beautiful. However, because of its boldness, the color red is also used to symbolize a warning. This is clearing seen in stoplights, stop signs, red flags, etc.
Therefore, red in one’s budget is a warning color for not only one’s finances, but a warning sign that may adversely affect one’s health if not recognized and addressed.
Some of those adverse medical symptoms that maybe demonstrated when one is in the red could include stress, high blood pressure, anxiety and depression to name a few. Additionally, if not mitigated these medical conditions will affect one’s health and diminish their quality of life.
If you find yourself in significant debt due to poor or needed financial decisions, you probably have experienced stress. Stress is pressure or tension that is placed upon the body due to some outside force being experienced. Stress can be a good thing as seen through the years of stress placed upon coal. Ultimately, the lump of coal, due to the years of stress placed upon it, eventually becomes a diamond. However, the human body is not equipped to take such a significant amount of stress on an ongoing basis and this can lead to other major health issues.
One of those major health issues can be a significant rise in blood pressure. Simply defined, blood pressure is the measurement of pressure placed upon the internal blood vessels within the cardiovascular system. If the blood pressure is high this is known as hypertension and over time can cause significant health issues which could include having a stroke or a heart attack. If these resulting medical conditions occur due to high blood pressure they may lead to permanent disability or death.
Another significant medical condition that may occur when a creditor calls or a bill is received reminding one of their financial conditions can lead to anxiety. Anxiety is a state of mind when one worries constantly about a particular event or situation that is occurring. Unchecked anxiety can lead to medical conditions which could include ulcers, high blood pressure which may cause excessive strain on the heart and could lead to a heart attack or stroke.
Additionally, if a person is anxious about their indebtedness then this may disrupt their sleep. This disruption of sleep may lead to other issues which could include poor work performance and put a strain on one’s relationship with fellow family members. Eventually, if left unchecked, anxiety can lead to permanent disruption of family relationships as well as dismissal from one’s employment.
Other debt related health issues can be explored at http://www.webmd.com/balance/features/the-debt-stress-connection.
Therefore, for the sake of the individual’s health who finds themselves significantly in the red and for the sake of their family, it is important to explore options to help that individual with their debt.
The first option for an individual who finds themselves in a warning colored position is to continue to take care of the problem themselves. Typically, an individual will continually try to pay their monthly payment and trust that the total amount will eventually be repaid. However, the problem with this particular option is the fact that those who find themselves in debt pay a significant amount each month that just goes as an interest payment. It is estimated that the average household in America owes over $15,000 in credit card debt. If one does the math on this total amount owed, it will reflect an average of $2,500 a year paid just simply towards interest.
Accordingly, it will take years and years to pay off a credit card balance at a high 15%+ APR. Consequently, thinking this through, the years of health-related issues that this may cause will continue to grow and worsen
Another option could include working with a credit counseling service in which this service will work with your creditors to possibly help lower the interest rates that are being charged on the outstanding balances. Typically these companies will take your monthly payment on your behalf and pay those allotted amounts to the various creditors. The value of this option is that the creditors generally negotiate with the credit counseling service to provide the indebtedness individual with a lower interest rate.
Another option for an individual to stop seeing red is to file bankruptcy under Chapter 7. This is probably the most adverse option to be involved is with as, even though it liquidates your debt, the stain on your credit report remains for 10 years. Additionally, with this option, if the person in debt has student loans, these loans needed to be repaid regardless.
Another option is a debt negotiation working with a debt negotiation company. The process involved with a debt negotiation company is that the person who is in debt pays their credit card obligations to the company. The company holds all of the monies in a FDIC account. However, no payments are made on behalf of the person who is taking advantage of this service. Eventually, when the creditors are not paid they are more open to negotiating a settlement with the person who owns or has the debt. This is where the company will negotiate on behalf of their client and help to negotiate a settlement to have the indebtedness resolved.
It is important to note that there are a number of options available to the individual to find help with the disease known as financial inflammation or “being in the red.”
As with any illness it is important to seek help from a professional. For this disease of indebtedness is important to secure a company’s help that best suits you and your circumstances.
The bottom line is for financial healing.