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


96.35% • 264 votes


3.65% • 10 votes

You may not vote on this poll

274 votes in total.

    • MSE Andrea
    • By MSE Andrea 8th May 15, 11:26 AM
    • 7,869Posts
    • 19,671Thanks
    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 4
    • phoenix851
    • By phoenix851 29th May 16, 10:56 PM
    • 2 Posts
    • 8 Thanks
    Hi all,

    I have only recently discovered this forum and have already found some comfort in reading the stories of others. Being in debt can bring on all sorts of emotions - shame, anxiety and frustration are probably my three most experienced emotions in relation to debt.

    I am currently in £15,000 debt - 2 unsecured loans, 3 credit cards. A large contribution to this was starting to use payday loans following the breakdown of my relationship, then acquring more debt to make monthly payments and so on and so on. I continue to make payments and 'manage' my debt but with the entirity of my wage swallowed up by repayments. As many of you may be familiar with - the spiral is a fast one; suddenly I find myself here, rock bottom, staying with my parents at the age of 30 and struggling to see an end to this black tunnel.

    I just wanted to say thank you to those who post and support others experiencing debt. I've had a pretty rough weekend (the latest in a long line), focusing on my situation and trying to forge a way out. This forum lifted that weight for while - knowing that I am not alone in this.

    Such a valuble source of support and information.

    Thank you x
    • sunshine&showers
    • By sunshine&showers 1st Jun 16, 7:40 AM
    • 20 Posts
    • 29 Thanks
    Hi everyone

    I'm new today and this post is very close to home for me. I have a large amount of cc debt, around £25,000 and my debts have affected my mental health and my mental health has affected my debts.

    I joined here as I struggle to talk about my debts with most people for fear of being judged. I've built the debt up through various things, one of the toughest ones to admit though is I spend on others because I want them to think of me in a positive way, to be liked. It's the way I briefly have self esteem, if others praise me then I feel good for awhile.

    So I'm tackling both head on now, my debt and my mental health and I think it's great for mse to highlight this area too.

    Good luck to everyone on here and remember you aren't alone

    • Isa76
    • By Isa76 21st Aug 16, 10:44 AM
    • 2 Posts
    • 4 Thanks
    I just found this thread and reading other people's stories has helped immensely. Has my debt caused my MH issues or has MH caused my debt? Who knows and the truth is it doesn't matter. It's about having a okish day and finding inspiration when your brain can say - it's possible.

    Now I need to try to help myself. I have not worked now for 3 (I think) years following redundancy but was already on my way down into my second episode. I live with my parents, I am older than I should be, and not as wise as I should be. This episode is hard and I used to spend money without thinking to make me feel better about my life and today I am hoping to change that. I am not getting any money and am living on my parents which is humiliating but worst of all not fair to them.

    In my experience the NHS is a great institution but when it comes to MH it all seems to be about circumstances. If you are not suicidal then they just want to give you pills to keep you "working/living a normal life" or existing until you crash.

    The charity MIND has saved me, it has led me to volunteering and now this thread has convinced me that I can be debt free - maybe just before I die but that's better than not at all right? I'm not going to sugar coat this, if I were to close my eyes tomorrow and not wake up the only thing that would haunt is the mess I would leave behind for loved ones so I'm not going to do that to them.

    I'm going to get better and when I am better I am going to sort myself out financially. I can't cope with focusing on more than one thing at a time as I wobble so getting better will take priority but the debts are my responsibility and I need/want to sort them out. I will get there I just have to keep fighting. One day at a time.

    This thread has given me a flicker of hope without making me feel like I am the worst specimen on the planet. It hasn't humiliated me, made me feel small for all my faults and shortcomings or criticised (yet!), maybe one day I will be better and maybe one day I will be debt free. Who knows. But I want to try and sometimes that is half the battle. Sometimes just waking up everyday is the battle. But each day we must fight each battle one tiny bit at a time. Thank you to all that have written and posted on this thread. Today you have inspired and saved a life.
    • Herc Time
    • By Herc Time 5th Sep 16, 3:53 PM
    • 1 Posts
    • 2 Thanks
    Herc Time
    This is my story.
    I was a pathological gambler.I gambled from early childhood to the 29 year . I passed the whole circle of interest in the game through first gains, debts , usury , fighting with myself.
    I met many people that have gambled , watched them how they becoming poor and how they rock their families.I thought that I am not liked tham, that I have everything under control.Because one event I stopped gambling,and now I fell I have obligation to help other people. To help gambeler you have to understand that feeling of unbearable impulse,joy and suffering that gambling brings with it. You have to be stronger than him.
    • Joanna jinxed
    • By Joanna jinxed 10th Sep 16, 2:11 PM
    • 8 Posts
    • 5 Thanks
    Joanna jinxed
    My mental health and my debt are unhappy bedfellows.

    I was diagnosed with borderline personality disorder when I was 20. Impulsive spending was an easy get-out from reality. From the moment I went to university and was given an overdraft, I have been in debt. I spent all the megre savings I had, spent all the money in my overdraft, acquired credit cards and goes on and on every time I hit a low period in my mental health, my spending goes out of control. Then I get a bit better, budget sensibly...but it all gets too much and I wind up back where I started. I've been sleepless and near suicidal at times. Now I'm looking down the barrel of the £25k of debt I've racked up and I'm determined to take control. I've gotten in contact with a debt relief charity and I'm determined to start taking the small steps towards being debt free. I'm 32 now, and my goal is to be debt-free by 40. I want to start a family, although while my finances are so dire I won't even entertain the idea.
    • joshsmith11
    • By joshsmith11 5th Oct 16, 1:34 PM
    • 3 Posts
    • 3 Thanks
    Ok, firstly I have read a lot of threads on this forum and I don't think my situation is that bad in comparison to others. However, I am now suffering from depression and would like some advice on how to proceed with my life and finances.

    I am a 24 year old male, currently living at home with my parents. Around 8 months ago I suffered from rage and lost a substantial (to me) amount of money gambling. The gambling situation is now firmly under control and I will never make the same mistakes again. In order for me to see ends meat and to pay my bills, I took out multiple loans.

    I am in full time employment (having been with the same company for nearly 3 years) and currently earn a net pay of £1,171.99 (after NI, tax and company pension) - I don’t have any money saved or tied up elsewhere.

    My next month’s payments look as below and this is the basis for month upon month;

    • £100 board to my parents - ongoing
    • £50 phone contract until - January 2017
    • £145 car finance - (3 years left)
    • £70 Car insurance - until September 2017
    • £100 petrol - ongoing
    • £3 p/m – car tax
    • £250 paying girlfriend back for holidays/money lent - £2,000 outstanding
    • Football subs £25 p/m
    In addition to the above I also need to pay £100 to my mum (money owed). Also I have a lot of birthdays and Christmas plus other miscellaneous which also cause outgoings.

    My debts are as follows:

    • HSBC 1 - 12 monthly payments left of £84.15. (£993.70 outstanding).
    • HSBC 2 - 12 monthly payments left of £161.82. (£1,925.80 outstanding).
    • Zopa 1 - 36 monthly payments left of £40.74. (£1,466.64 outstanding).
    • Zopa 2 - 31 monthly payments left of £39.70. (£1,190.00 outstanding).
    • Rate Setter - 30 monthly payments of £54.47. (£1,493.39 left outstanding).
    I appreciate this was my own doing and I have nobody other than myself to blame but I am really struggling with uncharacteristic mood swings due to this and it is getting me down.

    I also have been in a relationship with my girlfriend for over 3 years now and we are desperate to save to buy our own place, her finances are much better than mine. She currently has deposit saved of over 6k and also comes out with £500 a month saving money.

    I don't want to seek doctor’s advice as I don't want this to affect my work life or anything.

    I have also been asked to interview for a new job at a big company with a large pay increase. However, with this obviously comes with the risk of meeting the probation period targets ect.

    Is it worth looking into setting up an IVA or should I stick to my payments and suffer the consequences of my actions for the next couple of years? If I was to take out additional support/advise, would this ruin my credit history of ever getting a mortgage with my partner? Would I have to declare this on all future correspondence such as job offers or anything to do with payments such as insurance companies?

    I would be grateful to hear some advice on how to proceed with this and also seeing the bigger picture as to regards to future plans.

    • By HEROWHENZERO 7th Oct 16, 1:41 PM
    • 39 Posts
    • 68 Thanks
    Hi Josh, firstly well done for confronting your issues. I too was your age when I first went mad gambling, and for a time I started sorting stuff out. My trouble was I didn't keep the gambling addiction in check and 13 years later, I'm significantly worse off, a house and 2 relationships down and 91k in the red. Don't underestimate the damage gambling addiction can bring. If you don't already go, I strongly recommend regularly attending GA meetings. Keep going to meetings and the chances of reoccurrence is dramatically reduced.

    As for the finances, contact StepChange discuss the options with them. I'm on a Debt Management Plan with them.
    Just for today I will not try to solve all my life problems at once.
    DFD: April Feb 2033
    Original Debt: £96K Mar 2016
    Current Debt: £91165.17 Oct 2016
    £92228.23 Aug 2016 £91808.02 Sep 2016
    • Lindahill
    • By Lindahill 14th Oct 16, 3:09 AM
    • 1 Posts
    • 1 Thanks
    If you have large debt, you are more like to suffer from emotional distress which causes tension. It is important from the start to accept debt as your problem and talk about it. Share your worries to your friends or loved ones. It can help. The last thing you can do is take an action. Get in touch with financial expert and know your options. Filing bankruptcy is also a way to overcome it. Sooner or later you’ll find yourself recover if you take the right steps. Restore your self-esteem and get a new start.
    • nigrub20
    • By nigrub20 16th Oct 16, 7:07 PM
    • 1 Posts
    • 2 Thanks
    Hi all,

    Recently been lurking on the forum and have found some comfort knowing I'm not alone in this situation.

    I'm roughly £20k in debt at 21, 22 in 3 months time

    I took a Debenhams store card just after I turned 18 and it's pretty much spiralled out of control since, I've now got roughly £14k on credit cards/overdrafts and have £6k left on car finance.

    I've never been formally diagnosed with depression (purely because I refuse to go to the doctors about it) but I was on antidepressants as a teen for anxiety issues, and I frequently suffer panic attacks.

    My spending and moods are related, I'll fly off the handle and spend to make myself feel better, if I'm happy/upset about anything then I'll buy something to fix it.

    The issues with money are seriously starting to affect me, I can't sleep, barely eating and my anxiety is through the roof. I know I need help but I'm desperate to keep up appearances so I don't know where to turn to.

    • rockey100
    • By rockey100 22nd Oct 16, 2:25 PM
    • 2 Posts
    • 2 Thanks
    Managing debt is hugely difficult. The more proactive and manageable I am around my debt the better I generally feel about it.

    I've come out of 40k debt so it can be done.
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