Many people have problems with compulsive shopping. Casually termed as “retail therapy”, it’s common for light-hearted jokes to be made about those who love to shop and have more clothes than they can wear. However, those with a shopping addiction can find themselves in a dark place emotionally, especially when their compulsive shopping is negatively affecting their finances and their relationship.
If you believe that you or your partner is addicted to shopping and you have found yourself in a great deal of debt because of this, you will need to address the problem in two ways. First, you’ll need to address the underlying reason for this compulsive behavior so that you have a chance of stopping it. Second, you will need to tackle your debts so that you have a good chance of getting a fresh start.
Addressing the compulsive behavior
Those with a shopping addiction, like those with any addiction, may engage in the activity because it helps them to escape stress or trauma. It’s important that the affected person goes through therapy to help them address their habits effectively.
Addressing the debts
Being in debt can cause stress, and it can lead people to shop even more in the hope of reducing that stress, leading to a vicious cycle. By filing for Chapter 7 bankruptcy, it could be possible to settle all of your debts in a matter of months through the liquidation of assets.
Addressing your addiction and filing for bankruptcy could be the key to a brighter future for you. Becoming debt-free through Chapter 7 bankruptcy is a great way to get a new chance of managing your finances effectively.