MSE Poll: Does mental health affect your debts?

edited 30 November -1 at 1:00AM in Money Saving Polls
5 replies 4.1K views
Former_MSE_KarlFormer_MSE_Karl Former MSE
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edited 30 November -1 at 1:00AM in Money Saving Polls
Poll started 29 October 2018
We're updating our research on links between mental health issues and debt problems. It's argued either one can cause the other. If you’ve been affected, see our Mental Health & Debt guide.

NOTE: Please exclude mortgages and student loans from definition of "debt".
Did you vote? Are you surprised at the results so far? Have your say below. To see the results from last time, click here.

If you haven't already, join the forum to reply.

Thanks! :)


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Replies

  • earthmotherearthmother Forumite
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    I have depression and anxiety on top of various chronic physical health conditions. Combine them with the absence of any accessible CAB support or similar in my area and there have been times in the past when I've been unable to service my debts or keep in contact with my creditors.

    I hate to say it, but this has happened more than once over the past decade (including right now, despite my sig). I will say though that most creditors are a lot more accepting of situations like mine and are far more willing to help/make allowances than they used to be, so something is definitely changing.
    DFW Nerd no. 884 - Proud to [strike]be dealing with[/strike] have dealt with my debts
  • UKTigerlilyUKTigerlily Forumite
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    Yes, very badly. I have Bipolar, Anxiety & EUPD and money is a daily struggle, not to mention treatment costing £90 a go
  • Wow. Those results speak for themselves!
    I'm broke, not poor. Poor sounds permanent, broke can be fixed. (Thoroughly Modern Millie)
    LBM June 2009, Debt Free (except mortgage) Sept 2016 - DONE IT!
  • es5595es5595 Forumite
    355 Posts
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    There is definitely a correlation in the results, but they don’t show whether people who are poor at managing their finances are also likely to be poor at managing their mental health, or whether those who have debts are consequently more likely to suffer more mental health problems.

    More investigation needs to be made about the cause and effect, and it would have been more helpful if those who voted also posted a sentence or two about their situation.
  • UKTigerlilyUKTigerlily Forumite
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    es5595 wrote: »
    There is definitely a correlation in the results, but they don’t show whether people who are poor at managing their finances are also likely to be poor at managing their mental health, or whether those who have debts are consequently more likely to suffer more mental health problems.

    More investigation needs to be made about the cause and effect, and it would have been more helpful if those who voted also posted a sentence or two about their situation.


    Good points. I was born this way, so way before I could have even got credit, in fact, everyone I know with secondary MH issues developed them in childhood not as adults. I went and blew my credit to hell at 18, and had my first cc at 17 (no idea how, I didn't change the DOB), and nobody had spoken to me about money management, plus I was undiagnosed Bipolar.


    I wish someone'd knew because being unable to get credit can make things difficult, but if I could get it, i'd end up in thousands of debt. It's expensive being unable to work, and now my DLA is about to shift to PIP, if I fail that then i'll never work again, as that pays for my treatment for 2yrs, without it i'd never afford to.


    It's expensive because to do anything in life, eg go out, get nails done etc often requires a deposit, one you lose (& often the full amount), if not well enough on the day to go (happens all the time, as idk day to day)


    It's expensive when you join 3 gyms the same day, totally high, and then end up with CCJs for all three, even tho you never used any of them even once. All of my debts are due to mh
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