Charity warns of 'debt depression'

Being in debt can worsen mental health problems, a study found

Being in debt can make mental health problems worse, according to a study.

It also revealed that people with mental health problems are almost three times more likely to be in debt than those without them.

Researchers working for mental health charity Mind spoke to more than 1,800 people across England and Wales and found that 924 said they had problems with debt and mental health issues.

Of those, 91% said debt had adversely affected their mental health and more than 50% were living on a weekly household income of less than £200 - the Government defined poverty line.

Mind has called for bank workers and debt collectors to be given mental health awareness training and also wants an inquiry into how bailiffs deal with mentally-ill people.

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."

The study also found that 63% of people in debt did not tell the organisation they owed money to about their mental health problems because they did not think they would understand.

Mind's campaign is backed by finance expert Martin Lewis. He said: "Severe debt isn't just a financial problem. It causes relationships to break up, people to lose their homes and families to break down. No matter who you are, it can send you to the pits of despair. There is a clear correlation between those in debt and those with mental health problems."