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Results: Has being in debt caused you stress and anxiety?

Yes

96.46% • 382 votes

No

3.54% • 14 votes

You may not vote on this poll

396 votes in total.

  • FIRST POST
    • MSE Andrea
    • By MSE Andrea 8th May 15, 11:26 AM
    • 8,464Posts
    • 20,699Thanks
    MSE Andrea
    Debt and Mental Health - How have your debts affected you?
    • #1
    • 8th May 15, 11:26 AM
    Debt and Mental Health - How have your debts affected you? 8th May 15 at 11:26 AM
    Hi everyone,

    As part of Mental Health Awareness Week 2015 next week (11-17 May), we’re supporting Stepchange Debt Charity and the Mental Health Foundation (MHF) in highlighting how debt can play a large part in mental health issues.

    We have a free Mental Health and Debt guide available for anyone to download so if you're struggling please do take a look!

    Has being in debt caused you stress and anxiety?

    We're launching a poll to see how many of you have had mental health issues. We've kept responses private so other forum users won't see who's voted in the poll. If you'd like to reply below and discuss that would be great but don't feel you have to.

    Join the forum to vote in the poll and join the conversation: join.

    Mental Health Awareness Week Twitter Chat Wed 13 May, 11am

    We're hosting a twitter chat with StepChange Debt Charity and the Mental Health Foundation this Wednesday: Twitter Chat
    Last edited by MSE Andrea; 08-05-2015 at 12:08 PM.

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Page 6
    • charmed1318
    • By charmed1318 18th Aug 17, 1:19 PM
    • 171 Posts
    • 28,039 Thanks
    charmed1318
    I feel for all these sorties, I I guess in a way I have been lucky.
    I am 29 now.
    Diagnosed at 16 with depression.
    Diagnosed a 25 with cyclothymia.
    Been in debt (it seems like forever)
    I have never doubted any of the money I owe, but have been paying £1-£5 a month to them. They will get paid it will just take time.

    I am also very lucky I can now talk to my mum, though she doesn't know the amount.
    I do think there needs to be stringent which to be applied to some, if not all lending. Although due the DPA, unless we say something , it will not help.

    I think the main problem can start at about 19-21, that was when I got a £2000 loan and a credit card. Yet my lil brother who is 25, hasn't had core.any kind of credit = no credit score.

    Anyway, long story short there should be more accessible help.


    • HairyHandofDartmoor
    • By HairyHandofDartmoor 3rd Sep 17, 12:38 PM
    • 1,005 Posts
    • 1,067 Thanks
    HairyHandofDartmoor
    Ive been in debt since I was offered my first credit card when I was 18. I didn't understand that it was a debt card and not a credit card. I gave in to the overwhelming temptation to buy some of the things I'd always wanted. I had no idea of how hard it would be to pay it all back once interest had been added.

    When I left college I was offered a graduate overdraft, which I foolishly accepted. When I still hadn't managed to get a job after 6 months I began to get pressure to pay it back, even though I was on unemployment benefit. I managed to find a job eventually, but never earnt enough to get free of the debts. It was always a worry at the back of my mind but I coped and had an excellent credit reputation. As a result I kept getting offered more credit.

    When the recession hit in 2008 I struggled to make my monthly repayments and pay my living expenses. I become very stressed and depressed. At one point my OH and I were paying £1000 a month in interest alone! We were were working like slaves but never had anything to show for it. I was prescribed anti depressants by my doctor and told that he had seen many people recently due to money worries .

    I am 53 now and soon to become debt free . The relief is overwhelming and only now do I realise what a black cloud my OH and I been living under for so many years. I never want another credit card or loan ever again. I intend to save up and pay for things the old fashioned way. Credit is a trap that I and many others have fallen into and it's very hard to get free when the whole system seems designed to keep you in debt. I wish that when I was 19 I had known what I know now .
    Debt at highest = £58,766 Current debt = £16,234

    Long Hauler No. 156 Spendaholics Anonymous No. 47
    • beebrook
    • By beebrook 14th Sep 17, 1:49 PM
    • 27 Posts
    • 11 Thanks
    beebrook
    From my experience, debt and mental health are intrinsically linked. They feed each-other.

    Being depressed and having anxiety disorders like I've had can make it difficult; to budget, to hold-back from overspending, and stop yourself from doing impulsive things (like taking out payday loans).

    Being 19 and in so much debt (more specifically, bad, unmanageable debt) has only made these mental health problems worse. They'd make anyone stressed, worried, and perhaps even depressed. I know first-hand that facing up to a debt problem can shatter your self esteem too. It's like facing up to your own flaws as a person.

    In other words, poor mental health can put you in debt, and debt can cause mental health problems.

    My advice to anyone else with debt and/or mental health issues is this: read through the DFW forum.

    You'll then realise that you're not alone. There's a way out (one way or another) and being in debt isn't a reflection on you as a person. It just means you're in a bad situation. Even if you're partly to blame, sub-prime loans, high interest credit cards and consolidation loans really shouldn't exist in the first place.
    Debt to date: £4,330.07 - 88.9% left to go
    Debt upon joining (Sep'2017): £4,870 - Payday + Personal loans, Aqua credit cards & Nationwide Overdraft
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