Debt worries can ‘lead to mental health problems’

People worried about the state of their finances and the possibility of bankruptcy may be more susceptible to mental health issues, it has been suggested.

Paul Farmer, the chief executive of Mind, pointed to a survey conducted by the charity that revealed 91 per cent of people’s mental health suffered while seeking a debt solution.

“We know that when people are worried about money or job security they are particularly vulnerable to developing mental health problems,” he said.

Mr Farmer welcomed the recent announcement by the government that it is to allocate £13 million of funding to therapy services in response to the likelihood that mental health problems will increase during the recession.

However, he added that it is not yet clear whether the cash injection will be “sufficient” as the “current situation is unprecedented”.

Health secretary Alan Johnson and work and pensions secretary James Purnell announced a raft of new measures on March 9th in a bid to help unemployed people suffering from depression to get back to work.

By Rosie Park