Question:
Dear Steve,
Same one you’ve been asked 450 times already. Bipolar disorder, anxiety disorder, borderline personality disorder.. Finally got credit after 30 years. Ran the cards up to the max. I was also taking a medication known for inspiring people to gamble, etc. Seems like a double whammy to me. The minimum payments keep going up. One month it’s $25. Then it was $74. This month it’s $117. That’s one card. I have 4 such accounts. I get $925 a month. I need help. It’s cutting into what I spend on groceries. Boo hoo.
Rick
Answer:
Dear Rick,
Your situation is surprisingly common. In fact, people with Bipolar Type 2 are reported to experience gambling related problems four times higher than the general population. – Source
And you are correct that problem spending and gambling can be the byproduct of some medications. For example, drugs like Abilify and Aristada that contain the antipsychotic drug aripiprazole can lead to such impulse control side effects. – Source
We could dive into all the reasons why but I think that ship sailed for you.
So here is what we are left with, you have residual unaffordable debt as the result of the underlying bipolar and mental health issues. You also mentioned you suffer with anxiety disorder and borderline personality disorder.
So the problem debt is the symptom of the byproduct of struggling with these mental health issues. The mental health issues are not an excuse for the debt but help to understand how the debt occurred.
You need to file bankruptcy and close the door on this debt. Some may suggest you stop paying and tell the creditors to get lost but considering your subsurface mental health issues I would strongly suggest you legally close the door on this debt and make it legally go away. Then it will be up to you to NOT go back into debt even though some creditor may gleefully want to give you more credit. Some will be eager to load you up again and you may be inclined to do just that during a future manic phase of your disease.
I would suggest you talk to your local legal aid clinic or find a local bankruptcy attorney to affordably help you with a Chapter 7 bankruptcy. Get your life back with bankruptcy and you’ll have a shot at a better future.
You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.
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