Bosses urged to help employees in debt

Bosses of companies across the UK have been urged to help their employees deal with the psychological effects of debt management problems.

Healthcare firm Bupa suggests that unless steps are taken by employers to help staff who are struggling to become debt free, many more working days could be lost to stress-related illnesses.

The company also warns that debt problems could worsen for many people over the Christmas period, particular in light of the Bank of England’s decision not to cut the cost of borrowing this month.

Bupa psychological expert Tony Urwin explained: “A person whose financial future is uncertain is highly likely to feel pressurised and unable to cope.

“The visible work-based symptoms of stress can include short temperedness, an inability to plan and control work, poor relationships with colleagues or clients and loss of motivation.”

Martyn Saville from the consumer group Which? recently urged British borrowers to choose an appropriate credit card deal in order to limit their repayment burdens.