Can severe debt problems lead to mental illness?

Personal debt is a growing problem in the UK, but is anThe department of health and the environment at the
even greater problem for those that suffer mentalWales Centre for Health is conducting research into
illness for a variety of reasons. In many cases it is thethe link between ill health and debt. Director Susan
anxiety over the amount of debt they have that hasMalby said:
contributed to the mental health issue, but others have"Most of us are in debt of some kind, but we prefer to
got into debt while already suffering from the illness.call it credit, a much more socially acceptable way of
Even now, as would-be lenders become ultra-cautiousdescribing debt. However, over-indebtedness isn't linked
about to whom they lend, credit is still readily available.uniquely with poor debt management or low-income
Advertising regularly espouses the "buy now, pay later"families. Events such as birth of a child, sudden
culture, into which many of us have been drawn. Itunemployment, the death of someone close, long-term
now appears impossible to enjoy an everyday lifeillness or disability; all significantly increase the chances
without incurring some element of debt along the way,of falling into severe debt."
as many struggle to get onto the housing ladder orThe study has found that many who fall into debt
afford their drastically increased mortgage payments.suffer health problems because they can no longer
But, while most manage to just keep their head aboveafford to eat properly or heat their home. That adds to
water, financially, many more are drowning in debt, andthe anxiety they are already feeling and that's when
dealing with that throws up many emotional problems.people can slip into the spiral of hopelessness that
The classification of 'over-indebtedness' by the Citizensin-turn leads to lack of self-esteem at best, or can
Advice Bureau includes someone who is "unable tomanifest itself as mental illness in worst case
pay their current credit repayments and meet theirscenarios.
other commitments without reducing other expenditureTo prevent that Malby recommends that anyone in the
below normal minimal levels." Many of the people whosituation where they need help finding appropriate debt
fall into that classification will suffer more readily fromsolutions, should immediately contact the Citizens
depression and ill-health, and that includes mental illness,Advice Bureau in the first instance, and get back on
as well as being more likely to incur even more debt.the road to financial and emotional well-being.