Debt ‘is making people ill’

Many people are suffering from mental problems partly because of their debts, it has been argued.

Spokesperson for the Money Advice Trust Beccy Boden Wilks said a number of people contacting the charity with money worries had provided evidence of a link between the two issues.

“We often speak to clients who feel depressed and who have visited their GP due to the stress and anxiety caused by their debt situation,” she noted.

Ms Boden Wilks said that those who are dealing with debt must first find a solution to those issues where payment must be made to avoid the worst consequences, such as rent or mortgage payments to avoid losing a home or utility bills to prevent disconnection.

The comments come in the wake of a new report jointly carried out by The Royal College of Psychiatrists and Rethink, which found a clear correlation between mental illness and personal debt problems.

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