Statistics reveal that the outstanding public debt is USD$11,335,065,208,161.19. And the figure is still growing. This is the figure obtained as of 2nd June 2009. Earlier a consumer was the driving force of the US economy. However, the economic shortfall has ruined consumer confidence and landed consumers in serious trouble. It has made consumers weary not just financially but mentally too. So much is the stress level that consumers are also compromising on their insurance coverage.

There is a continuous cycle that is troubling Americans. Irresponsible behavior of lenders gave rise to subprime mortgage crisis. This led to liquidity crunch. When you are cash strapped, your purchasing power also decreases. Since an average American household has as many as 14 credit cards, use of plastic money increases. In fact, people have started using credit cards even for paying utility bills. If consumers stop buying, business entities suffer. Lack of adequate business causes layoffs leading to unemployment. And there is credit crunch again. So, this is a vicious cycle.

More and more people are becoming victims of debt related stress. Medical experts are of the opinion that stress is an indicator that your survival is being threatened. Debt induced stress can steal your sense of reasoning. A constant state of debt induced stress causes your physiological system to release cortisol as well as adrenaline. These are stress hormones that causes increased heart beat, breathing, blood pressure, inflammation, muscle fatigue, deposition of fats and glucose in your blood stream.

If you are subjected to such stress over prolonged periods, you are susceptible to heart disease, diabetes (which is often referred to as a life style disease), ulcers, disorders related to gastrointestinal tract, insomnia, migraines, tension headaches etc.

Instead of getting panic stricken, take control of your finances without delaying. Succumbing to debt related stress will only worsen matters. Write down your financial obligations, your income and adopt a very systematic approach to get out of debt. You are not alone and there are many others who are sailing in the same boat as you are. The debt help industry is flooded with debt relief companies. Take their help if you are not confident enough. In fact, when you know there is someone to stand by you, it makes you feel that you are working as a team and you are not alone. So, go for it.

It can be debt consolidation, debt settlement or debt management plan. They are legal ways to make you debt free. And even if you don’t qualify for any of these and bankruptcy is the only alternative you are left with, DON’T PANIC. See the positive side of it. You are getting an opportunity to start afresh financially.