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MSE News: Thousands struggling with debt while...

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An estimated 23,000 people experience problem debt while in hospital for a mental health crisis each year, according to new figures from a charity set up up by MSE founder Martin Lewis...
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'Thousands struggling with debt while in hospital for their mental health'
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  • jimbo747
    jimbo747 Posts: 630 Forumite
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    I think the long term solution is to make it extremely difficult to get credit to begin with, bar mortgage. The help on mental health alone will be huge- imagine never being able to get in debt, will also mean people have more disposable cash as they have to live within their means, any rises in interest rates will have a much lower impact and risk of financial Armageddon. I suppose less debt being taken on will make it look like the economy is shrinking and Banks and lenders will kick up a huge fuss as their main source of income is taken off them, and is probably the only reason it would never happen.
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