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Half of adults with debt problems may have mental health issues

Half of adults with debt problems may have mental health issues

- Friday, 9 October 2009

Half of UK-based adults that are struggling with debts could also suffer from mental health problems, it has been revealed.

According to the Finance and Leasing Association, which along with the Money Advice Trust (MAT) co-funded research by the Royal College of Psychiatrists and Rethink, there is a link between debt and mental health problems.

Joanna Elson, chief executive of the MAT, suggested that the debt advice sector had an important role to play in ensuring these vulnerable people dealt with their problems accordingly.

She said: "Half of adults in debt may have a mental health problem. The findings of today's report illustrate the vital role the advice sector has in ensuring that vulnerable clients are able to access appropriate sources of advice and support."

British comedian Steven Fry has leant his support to the findings, stating that as a bipolar sufferer himself, he is all too aware of the perils of over-spending as a result of the condition.
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