MSE News: MSE research shows link between mental health and debt

in Debt-Free Wannabe
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"New research from shows over a third of people who've had mental health problems, or have partners who do, have had "severe or crisis" debt..."
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MSE research shows link between mental health and debt


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  • fermifermi Forumite
    40.6K Posts
    10,000 Posts Combo Breaker Intrepid Forum Explorer Rampant Recycler
    For anyone following the links in that article to the new 2014 mental health and debt guide, the links to the actual guide are not very obvious. i.e. hard to find in some browsers.

    So if you have trouble and the link doesn't work, or you end up with the old 2012 guide, the 2014 guide is here.

    --> Mental Health & Debt Guide 2014
    Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

    IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
  • PasturesNewPasturesNew Forumite
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    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    It's hardly rocket science .... "research".... don't make me laugh.

    In other research, 99% of MSE regulars have Internet at home.
  • tomtontomtomtontom
    7.9K Posts
    "Regulation is often set up to help the ‘rational consumer’, but it’s important to understand the fact that each year millions of people are temporarily incapable of taking a rational decision or responsibility for themselves due to their mental health issues. Therefore they must be protected.

    This is simply not true. Yes, there is a link between debt and mental health and vice versa, but to suggest that millions may lack capacity is a gross exaggeration and shows no understanding of the law in this area. People make bad decisions, that does not mean they do not have the capacity to make such a decision.

    This article is so misinformed it should be removed and rewritten by someone who actually understands what they are talking about.
  • PincherPincher
    6.6K Posts
    This is called the temporary insanity plea.

    Why WOULD I borrow £100 so I have to pay back £1,000?

    If I had a hot girl friend like Reeva Steenkamp, why WOULD I shoot her in the head?

    Therefore I must have been suffering a diminished capacity for rational thought. Like tunnel vision, caused by a lack of blood flow and oxygen to my brain. I should be put on medication to regulate my blood pressure, NOT sent to prison.

    If it works, all road rage cases are temporary imbalance in your hormones, all crimes of passion are simply the result of fear and panic, all perfectly natural and human conditions.
  • JohnRoJohnRo Forumite
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    Tenth Anniversary 1,000 Posts Combo Breaker
    "Mental Health" what does that even mean..

    Are we talking about diagnosed mental illness or not and how much is there a chicken and egg scenario at play, at least regarding debt.

    Debt can drive people to feeling or becoming ill, that doesn't mean the illness caused the debt.
    'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB
  • Carl31Carl31 Forumite
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    Ninth Anniversary 1,000 Posts Name Dropper Combo Breaker
    makes sense, same as obesity or gambling or drugs

    People spend to get a feel good factor, to get that temporary rush or hormones that any addiction gives. Credit cards give people easy access to do this, hence they rack up massive debts feeding their habits

    Maybe CC companies should monitor spending patterns and block the card if there is a pattern noted?
  • extratypeextratype Forumite
    8 Posts
    I can understand in the sense you get swamped, I remember when I was 17 at college got £7 a week housing benefit and £40 a week from college(in one lump sum every term) so I treated myself to a games console for £60 and a few cheap games and things like bags of chips when I was out instead of cooking at home.

    Problem was when I had no money left at end of week I knew I had the £7 housing benefit so used that thinking I would just be thrifty the next week but that never turned out that way.

    Also if a problem arises like a dispute like a company overcharging you even if you have enough money to cover the constant overcharging you know you do not have money to burn so when you contact the company to get problem sorted and get nowhere you blank it out and when debt collectors start chasing you it just stresses you out as you know you are innocent.
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