UK Money News
12th May 2008
Debt fears fuelling mental health problems
Debt worries in the personal loans and credit card debts are exacerbating the mental health problems of millions of Britons, a new survey suggests.
In a poll of over 1,800 people conducted by mental health charity Mind, around half of respondents said they had problems with debt and mental health issues.
Worryingly, of these 91 per cent said that their financial situation had exacerbated their depression.
In response to the findings, Mind is calling for debt collection officers to be given mental health awareness training.
Mind's chief executive, Paul Farmer, said: "UK personal debt stands at a staggering £1.4 trillion but the real cost here is that on our mental health.
"Money worries aren't just keeping people awake at night - they are causing high levels of stress, depression and in some cases self-harm and suicidal thoughts.
"At a time when people across the country are anxious about their finances, debt depression is a real and growing concern."
Mind's research also found that 63 per cent of those with debt did not inform their creditors of their condition on the grounds that they would not be sympathetic.
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