44% with mental health problems have crisis debts – 5x everyone else
It’s time to end the dual stigma of this marriage made in hell
Mental health problems can cause severe debt; severe debt can cause mental health problems. The sheer scale of this national problem is hidden, as both issues carry a stigma. MoneySavingExpert.com today launches a campaign to tackle the marriage made in hell of mental health and debt, including a major new free guide for sufferers and their carers.
In a new poll of 6,700 people, 44% of those who’ve had mental health problems (or have partners who do) have had severe or crisis debt – five times as many as everyone else (9%). For those with mental health problems, big debts are the norm.
Mental health & debt – the stats
- One in four British adults experiences at least one mental health problem in any year, eg, clinical depression, anxiety, bipolar disorder (source: ONS Psychiatric Morbidity report 2001).
- 44% of those seeking debt help have been prescribed medication to help them cope (Christians Against Poverty (CAP) 2010 survey).
- 38% of those seeking debt help had considered or attempted suicide as a way out (CAP survey 2010).
- 77% of those seeking debt help who are in a couple said debt affected their relationship (CAP survey 2010).
- Nick Clegg this month pledged to give an extra £400 million to mental health services to put it on an equal footing with physical health.
Free MoneySavingExpert guide
Supported by debt & mental health charities
Today MoneySavingExpert.com launches the first detailed guide of its type, to provide help and info for those with mental health and debt problems and their family, friends, carers and counsellors.
The free 40-page PDF booklet was written with guidance from several leading charities including Mind, Rethink, Christians Against Poverty and others. It includes help on where to find free one-to-one debt counselling, working with banks, tips for bipolar and depression sufferers and how friends and carers can help.
The booklet can be downloaded free at www.moneysavingexpert.com/