Yes, bad credit can lead to social isolation. Financial stress and hardship can lead to feelings of shame and self-loathing.
This may encourage you to pull away from friends and family, or see social interactions in a negative light.
Social isolation can have negative consequences on your physical, mental, and cognitive health.
Social isolation and loneliness due to bad credit can significantly increase the risk of premature mortality.
Bad credit can also make you less confident and outgoing. This can lead to lower social interaction with others.
Socially isolated children have significantly poorer health 20 years later, even after controlling for other factors.
The emotional and practical impacts of poor credit ratings often have long-term psychological consequences.
It's important to take care of both your physical and mental health, as well as your financial health.
Make efforts to improve your credit score with good money habits. It will show an improvement in mental health too.