Severe debt can cause depression and even suicide.

Discussion in 'Opinions, Beliefs, & Points of View' started by boo, Oct 10, 2010.

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  1. boo

    boo Well-Known Member

    Getting depressed over an increased debt load is normal, experts say. Typically the situation is temporary and as the debt lightens, so does the depression. There are those, however, who don't see a way out of their financial mess and become so despondent they contemplate or attempt suicide.

    - A record 272,171 homes foreclosed in July 2008 alone.
    - Over the past year, the number of unemployed people increased by 1.6 million -- bringing the number of total unemployed to 8.8 million.
    - 79 million people are struggling to pay medical debt.
    - The average college student graduates with nearly $20,000 in debt.

    I remember i borrowed $300 from a broker once. I thought it would be small potatoes to pay off. Not much so. They charged me 15% interest per week. I got pay every 2 weeks. Which means there's 1 week where i wouldn't be able to pay them shit. That means i had to give them $50 a week of pure interest alone. 2 weeks = $100 of pure interest. Back then i made only $340 per 2 weeks. So you can guess i was struggling major time.

    I also had my share of Collection Agencies harrassing me non stop. They would even called at my work! This is very frightening especially because they can basically go into your home and take anything they see fit. They should rename themselves Soul Collection Agency.

    Anyway, have any of you been so much in debts that suicide seems like the only way out?
  2. IV2010

    IV2010 Well-Known Member

    Oh yes boo..i'm a compulsive spendaholic when I'm depressed..which is all the time.
    I've always stressed about money and when my Dad died he left me some and I don't know where it's gone and now I stress not only because I don't have any money but that I wasted what I got from Dad..
    my son was the same...he had a reasonable wage, didn't pay rent but was a spendaholic too so never had any money and when he died he left a bankcard debt..
    it just seems to go around in circles...
    the depression causes the debt and the debt makes the depression worse..
  3. aoeu

    aoeu Well-Known Member

    I'm almost certain that's illegal and they wouldn't try - not even a landlord is allowed entry into your home without significant advance notice or your permission. A major tactic of collection agencies is to threaten you with illegal actions that they'd never do; most people cave pretty easily under their aggressiveness. Look up wiretapping laws wherever you live, and if it's legal, tape them if you ever get collection agencies calling again. If they don't threaten anything downright illegal you can probably still get them on harassment.

    Edit: actually, tape anyhow even if you're in a place that requires both parties to agree; tell them "I'm taping phone calls from you. If you don't consent stop calling." forcing them to either consent or leave you alone.
    Last edited by a moderator: Oct 10, 2010
  4. boo

    boo Well-Known Member

    They have done it, okmaybe not the agency itself, but videotron calledmy job.
  5. aoeu

    aoeu Well-Known Member

    Er, I mean the breaking in and stealing shit. That's a felony.

    They can call you until you tell them to stop (which you should do immediately in a recorded conversation.)
  6. nolonger

    nolonger Well-Known Member

    My uncle and auntie are in $800,000 debt, 50 thounsand or so being from credit cards and the rest a house mortgage. Thing is the mortgage alone is 700 bucks a week, and my Uncle is struggling to pay it. He has depression and is on prozac last I heard, haven't seen them for a while so don't know how they are going.

    Funny thing is that the guy my auntie was married to previously also had depression...I guess she just drives them all to the edge? lol :tongue:.
  7. chjones21

    chjones21 Well-Known Member

    In England they can take your shit. They took my car the other month. They just take it away.... they are evil but they will get theirs - karma - I really believe that.

    For a sixty pound parking fine - that's it. They are evil. The council is really evil and there is nothing you can do. They just are evil.
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