Understanding the chemical reactions that take place in the consumer's brain -- before and after debt is incurred -- can benefit professional debt collectors.

How do people get into debt in the first place?

According to noted science journalist Jonah Lehrer, the human brain is vulnerable to certain innate flaws. "These are the situations that cause the horses in the human mind to run wild, so that people gamble on slot machines and pick the wrong stocks and run up excessive credit card bills," Lehrer told InsideARM.

Because the brain craves certain sensations and chemicals, it can compel certain behaviors (such as gambling or overspending) that produce these chemicals. In addition, consumers can subvert their brains' pain/reward response when they rely on credit instead of working hard to achieve a financial goal. Paying with plastic allows them to receive the reward first without the pain of hard work. 

When credit is overused, the brain becomes confused, triggering a destructive loop of bad spending. Once this occurs, the ensuing financial stress hijacks neural pathways, rewiring consumers' minds in unexpected ways.

--Article Continues Below--

The brain perceives financial strain as a threat, stimulating a "fight or flight" response. The adrenal glands then pump out stress hormones adrenaline and cortisol, which induce physical reactions like increased heart rate, sweating, and anxiety.

If financial stress is prolonged, the area of the brain responsible for logical thinking (the prefrontal cortex) can be impaired. We become more reactive and less capable of managing situations. Strain also weakens the brain's primary memory hub (the hippocampus). The end result is difficulty concentrating and remembering important details that could help resolve our money troubles.

Consumers have the power to minimize the psychological and neurological impact of debt. 

Here are a few strategies to help lower stress hormones and boost feel-good brain chemicals (like serotonin):

• Practice self-care through exercise, sleeping well, and limiting alcohol and caffeine intake. 

• Challenge negative thoughts and reframe your situation more constructively.

• Set small, manageable goals to give yourself a sense of progress. 

• Don't isolate yourself; seek others' input and support.

Overcoming debt and financial stress is difficult, but a more positive financial future is attainable with the right mindset and proper self-care.