Summary
This briefing, authored by Clare Lally for the UK Parliament, explores the relationship between consumer debt and mental health. It discusses how debt influences well-being, highlighting systemic and personal factors contributing to "problem debt." The report also evaluates existing support systems, including government schemes and the role of non-profits, while offering policy considerations to integrate financial and mental health services.
Key Take Aways
Two-way Relationship: People with mental health issues are three times more likely to experience problem debt.
Vulnerability: Over 24% of UK adults show financial vulnerability, with low-income groups disproportionately affected.
Problem Debt: Citizens Advice estimates 5 million UK residents face deficit budgets, a 54% increase since 2020.
Suicide Risk: Over 420,000 individuals with problem debt in England contemplate suicide annually.
Support Programs: Initiatives like the Mental Health Breathing Space Scheme provide tempo...
Access this content for FREE by signing up for ROAR Membership.
Join with a Basic (free) or Plus membership (for extra features).