Survey reveals impact of debt on mental health and wellbeing

_{13 May, 2013}

New figures from StepChange Debt Charity highlight the acutely negative impact that debt can have on mental health and wellbeing.

A survey of the charity’s clients shows how debt can lead to relationship problems and breakdown, affect self-confidence, and that large numbers of people do not discuss their problems or wait long periods before seeking help. The charity’s findings are being released in conjunction with Mental Health Awareness Week.

• Relationships – 35 percent of respondents said that unmanageable debt had led to their relationships breaking up or getting weaker.
• Self-confidence – 78 percent of those surveyed said their debt problems had affected their self-confidence and ability to support their families.
• Suffering in silence – 28 percent said that they had not spoken to anyone about their problems.
• Waiting for help - 40 percent said that they had waited a year before seeking help. 

StepChange Debt Charity’s director of external affairs Delroy Corinaldi said: “These findings show that debt is not purely a financial burden, but potentially a psychological burden that can have profound effects on people’s mental wellbeing.

“We urge anyone who is feeling stressed, anxious or depressed regarding their debts to seek help at the earliest opportunity. Seeking debt advice is not only a means of getting your finances under control, but could help address one of the underlying causes of stress and anxiety”.

For further information visit the StepChange Debt Charity's debt in mind page.