Debt Consolidation and Credit Card Counseling

Credit counseling agencies could help millions of financially stressed Americans

A recent study shows that nearly one in four Americans is stressed about money problems in their personal lives.  The reasons are many - bankruptcy, credit card debt, poor jobs, reckless spending, health problems, drugs or gambling. The number of reasons for why so many people have financial problems are almost as numerous as the people themselves. The concerning part of this study is just how many Americans are bringing their financial troubles to their place of employment.

And once those problems walk through the door of the workplace, they become the workplace’s problems, too.

The American workplace is already burdened with more stress than those of many European countries. We work a longer work week and take fewer vacations than our European counterparts. In short, we’re already overworked and tire. Adding the burden of financial stress to the workplace just makes things worse.

How are these people with problem debt affecting the workplace?

They are preventing work from getting done. Anytime you are preoccupied with a problem of your own, you are taking time away from the problems you are paid to handle at work. This is especially true if you are spending half of your day on the phone with credit counselors, debt consolidation firms, or creditors to whom you owe money. Even if you are not using the company phone, the time you spend on your cell phone is time your employer is paying you for. And that time isn’t being used in your employer’s best interest. This decreases overall productivity and adds to increased costs for the company and their customers. Depending on the specific problems of the individuals involved, it could be even more disruptive should bill collectors actually some to pay a call at the workplace.

Those with serious cash problems often have health issues. If you are suffering from stress and are preoccupied with your own problems, you may be overlooking your health. If you owe five times your annual salary on credit cards, you’re less likely than most people to consider seeing a doctor should a health problem arise. That, in turn, leads to less productive days in the office as you are dealing with your job, your finances and your health. Worse, being more susceptible to infectious diseases, you could be spreading illness throughout the workplace, endangering your coworkers, as well.

Your problems with money could easily and quickly become the problems of your employer and your coworkers. If you’re trying to get out of financial trouble, that’s the last thing you need, as you need your job to pay your bills down. What you need to do instead is find professional help, ideally from a qualified, experienced credit counselor who can help you find a solution to your money problems that doesn’t negatively affect everyone you know.

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