By Jo Jamison, 20th May 2008.
One in eleven people in the UK are in debt or arrears (that is separate from their mortgage) but for people with mental health problems, this figure rises to one in four says the Mind Campaign launched on 10th May, 2008.
Worryingly, the research also found that banks are doing little to help. Of the 37% who told their banks they were suffering from mental health problems, 87% still faced payment harassment from those same banks. The report also shows that debt and mental health are inter-related; that one can cause the other. It is therefore a pertinent time in which these findings are released. As the credit crisis unravels, more people are missing debt repayments as banks raise their costs and tighten their lending due to losses on a massive scale.
So, as the middle classes join lengthening queues seeking debt advice, the question is how will the crisis unfold further and how will you be affected? Furthermore, what are we the general public going to do about it? As the burden of debt and mental health problems play a greater role in our homes, communities and national budgets, difficult questions will be in need of answering.
2 thoughts on “Debt and mental health: Mind launch new campaign”
My partner suffered a terrible mental breakdown several years ago which was worsened by debt collectors who continually harrassed her.
My partner was treated with medication which has gone a long way to improving her mind and health.
The problem we have now is the banks have
sold old debts very cheaply to ruthless debt collectors in an effort to gain lost money which they lost through their own greed. If the banks had
not lent money to those who could not pay back we would not be in the mess we are in.
One thing that history has shown us is that when the
masses suffer too much, they will riot, murder and tear down the establishment. I can see in the very near future the masses turning on the
Government and the banks. To prove my point take a look at how well the BNP are doing in support.
The banks have got us into this mess. i just hope down the line when things clear up, that legislation is made to stop
banks acting in such a ridiculous way.