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Debt worries leading to depression

Debt worries seem to be leading to higher rates of depression in the country, according to information acquired by the BBC.

Doctors and charities have both said they`ve seen an increase in the number of people who come to them worried about their debts and their job. Over the last four years, prescriptions for anti-depressants have risen an alarming 40%.

It`s not entirely bad news, of course. Many of those cases will be down to the fact that people are more aware that depression is a condition - and that anti-depressants can really help. At the same time, GPs have become better at recognising depression.

These are two points made by the head of the Royal College of GPs, Dr Clare Gerada, who went on to say: "Of course, in times of economic problems we would expect mental health problems to worsen - and GPs are seeing more people coming in with debts racking up, or who have lost their job and are cancelling their holidays.

"They feel guilty that they can`t provide for their family and these things can often act as a trigger for depression."

A spokesperson for the IVA Advisory Centre commented: "Debt isn`t just a financial matter. The money worries that people have can have a major impact on their lives, as stories like this demonstrate. It`s one more reason to seek debt advice at the first sign of trouble, before things can escalate.

"Simply talking to an expert about debt problems can help people get to grips with their issues - and identifying a practical way of dealing with them can really help them see it`s not an impossible challenge."



The IVA Advisory Centre is a licensed Insolvency Practice, offering expert debt advice as well as IVAs and a comprehensive range of other debt solutions. If you are in debt and would like to explore your options, contact one of our advisers today.