In this paper, we report findings from a research in Boston, MA that explores exactly just how varied experiences with financial obligation map onto wellness, with a focus right right right here on short-term loan financial obligation

In this paper, we report findings from a research in Boston, MA that explores exactly just how varied experiences with financial obligation map onto wellness, with a focus right right right here on short-term loan financial obligation

Moreover, previous studies have posited that personal debt can be specially stressful due to its more burdensome interest and payment structures (Drentea and Reynolds, 2012, Zurlo et al., 2014), and that ‘debt stress’, or be concerned about being in a position to pay back what exactly is owed, could be a vital mediator connecting financial obligation with illness (Drentea & Reynolds, 2012). The tendency of short-term loan mechanisms to trap borrowers in endless, and usually compounding, financial obligation rounds could certainly produce payment stress and anxiety this is certainly specially severe and enduring. Prior qualitative findings from our very own study, published somewhere else (Sweet et al., 2018; and Anonymous, In Review), additionally help this idea. Indebted Boston residents we interviewed described intense feelings of anxiety, despair, and psychological and real suffering stemming from their financial obligation and also the constant handling of home resources that accompanied their efforts to cover it well. Read more