Debt Fatigue

Debt has often been described as another form of slavery. By Ralph Waldo Emerson, for one, and by others throughout history. Debtors who borrowed too much, promised to pay back way too much, and now don't have the earnings power to do so...are screwed.

The technical name for this ailment? Debt fatigue. Debt fatigue is a psychological condition which lives in the neighborhood of depression. It can be likened to a mini-breakdown or resignation of hopelessness. Too much debt. Too many hours working just to pay back The Man (or rather, the bank). While never getting ahead.

Bankruptcy is often an option, but an ugly one. For most (if even possible), the best thing to do is to just pay off the debts and learn from the over-borrowing. Refinance and consolidate and take high-interest debt rent costs...lower.

See: Debt Avalanche. And if that doesn't work, see: Bankruptcy. Sorry. Just keepin' it real.