The link between debt and mental health by Mandy Rutter.

Written by Payplan Ryan on 16 May 2013

Leading psychologist, Mandy Rutter, is using Mental Health Awareness Week (13-19 May) to highlight the links between debt and mental health and urge anyone affected by debt to seek help.

Here she talks about the effects that unresolved debt problems can have on a person’s mental health: “When a person is in debt they can feel like a failure and become ashamed of the situation. These feelings mean there is a tendency for them to bury their head in the sand and pretend the problem does not exist. The consequences can be that financially it gets worse and psychologically it gets worse.

“The constant worry of the debt growing, the fear of what will happen in the future and personal burden of carrying this stress alone all leads to worsening mental health. Depression, anxiety, obesity and self-harm have all been shown to be more common in people who have problem debt. If you already suffer from these debilitating conditions it won’t take much to tip you over the edge and cause serious psychological concern.”

According to the Royal College of Psychiatrists one in four people has a mental health problem and a quarter of those people are in debt.

Mandy is working with Payplan because she feels that people in debt often do not know where to turn for help and advice. As a psychologist for the employee assistance and psychological rehabilitation company, Validium, she refers clients with debt problems to Payplan and knows the value of the help that can be provided.

She said: There are many people suffering in silence with debt and by not taking action it has a negative effect on their mental and physical health. I would urge anyone who is struggling with debt to take action and speak to Payplan.”

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