Debt and Mental Health - How have your debts affected you?

blurdyblurb1 · 21 September 2019 at 11:33PM

I work for Stepchange Debt Charity. I, along with many other colleagues, am on anti depressants, because of the abuse we get from some clients, but mainly because of the horrible working conditions we have. We try and help people in distress, but we work in a high pressure call centre environment. Check out the Indeed or Glassdoor job reviews if you don't believe me When you call, please be nice to us.

Cheesephetamine · 22 September 2019 at 1:12PM

Thank you for your work on StepChange

leslishambly · 8 October 2019 at 3:02PM

I work for a company who funds to mental health patients. People who suffer from mental illness, we also have a team of doctors and we know how we can manage all this system.

Michaelw · 10 October 2019 at 10:00PM

My advice is get a debt and medical evidence form and involve your GP and help from somewhere like the council.Mental health and borrowing/lending don't always go well.

https://www.stepchange.org/debt-info/debt-and-mental-health-evidence-form.aspx

Some lenders' sell on debt's when they really shouldn't.its a voluntary code but its signed up too.

Financial difficulty

12b.
If a customer has provided appropriate and relevant evidence of an ongoing mental health or critical
illness that affects the customer’s ability to repay their debts,
the debt(s) should not be sold.

https://www.lendingstandardsboard.org.uk/wp-content/uploads/2016/07/Standards-of-Lending-Practice-July-16.pdf

I had a letter out of the blue saying they are not seeking repayment on £6500 debt and to cancel any new payments.There were concerns here for example the agreement had several Access cards' on the cover I didn't recognise and refered to them in the agreement.I did raise this but the account was opened late in 1996 and a card sample on the internet showed the Access name had been removed leaving only Mastercard brand months' before.

Stress can lead to debt.PersonallyI don't think someone realises the damage done when lending collapses into default.A good customer becomes a defaulting debtor all of a sudden,it's a two way thing and banks should have a duty to step in at the signs' of trouble instead of increasing credit limits when the earlier figure is reached..

Poppy1984 · 10 October 2019 at 10:58PM

Since I decided to start tackling my huge debts and not take on any more it's been really tough. The past 6 months or so I've become more and more anxious and feeling really low ( I'm not sure if it's depression but it's feeling like it's leading that way) being on a strict budget with no room for treating me or my son is getting me down. The thought of the mess I'm in and all this debt just hangs over me constantly. I'm unhappy in my job but can't find anything to apply for that pays the same money and because of my debt I can't take a pay cut. I feel like I've lost my sparkle and lust for life. I don't "look forward" to or enjoy anything anymore I just feel like I'm going through the motions. I feel like a failure and a rubbish Mum. Partner, friend because I can't treat my friends and family or go on outings that cost any money. I feel like I'm just existing to pay this debt at the moment.

I exercise, which I find invaluable for my mind as well as my body, but I'm really struggling to keep it up. I'd really like to access some counselling or therapy as I know that's very affective, but it costs a lot of money and that's something I don't have.

madmaisy2017 · 30 October 2019 at 8:34AM

I started gambling because it made me feel happy when i won, it then became a vicious circle as i lost, so would spend more to win back my losses. After just 12 months i was £23,000 in debt and felt like taking my own life. It all came out in the open and i went into an IVA but now after 3 years it has failed and i know all my creditors are going to come back to me. I have been on anti depressants for over a year but at the moment i feel so low i just dont know what to do any more other than cry all the time. I still have the odd downfall of gambling but i am with gamstop now.

Afreshstart · 31 October 2019 at 8:32PM

Hi madmaisy2017
I see you posted back in August about this.It's very difficult to reply as you don't provide much detail of your circumstances and that's fine if you don't want to.
I can identify with your problem as my debt (2 years DMP) is all because of a gambling addiction.
Well done for taking steps to block access with Gamstop.
Please go back to your Doctor if you feel the need.There are many organisations where you can get advice on what to do next.
It's horrible feeling the way you do but you will get through this.Try not to live in the past you can't turn that clock back,its done now you have to start getting your life back.Find some expert counselling don't just rely on forums.
I hope your'e posting back soon feeling a little if not a lot happier.

Hireatrade · 2 November 2019 at 11:56PM

Personally, I never had any debt but I know someone who had a horrible situation. He was an in a good economic situation and then he took two grand loans and after 10 years it was 44000. Later on, he hanged himself. Not good. No, it wasn't a loan shark but he borrowed and borrowed.

Michaelw · 10 November 2019 at 11:16AM

3011gillian wrote: »

We’ve paid about half off but recently begun the CCA process which I’m not feeling the benefit of yet, I find it stressful not hearing from creditors and find myself waiting for the postman each day.

They can't enforce the agreement until they supply one and producing an acurate copy and from around twenty years ago can be a problem.The devil is in the detail with these agreements'.I wasn't happy with mine I made a nominal amount payment of £5 a month but knew there would have had problems enforcing what was sent even though for that period it was one of the best.

Last year it was sold to a company called Cabot but later returned to the original lender and now its gone they didn't appear to know anything about my condition.This can go on for years' and if circumstances are unlikely to change and its best ask to write the debt off with a medical evidence form.

If this is taking some time from an original lender it can suggest a problem.Credit cards are best paid off when due and refuse credit limit increases.

Paulapips · 12 November 2019 at 6:57AM

Always had bad mental health, bad shopping habits, not a great combination, anyways brought a house with hubby 16years ago, interest only. Didn’t realise how much it actually cost to own a house! Problem after problem. Anyway long story short, hubby changed job early on and was on a lot less money, we went from £3000 a month to £2000.... started using credits cards for food shops, now ten years later £75,000 in debt on credit cards and 2 loans. £1,700 a month just on min payments.
I suffer with quite severe depression, have anxiety attacks daily. I don’t do any housework. I spend my days in bed, I have a part time job working in a food shop and it physically hurts me to get up and go. I have an eating disorder... the list goes on. My husband is a good man, work all the hours but it’s just not enough.
We can’t remortgage, lord we tried..... we can’t sell, tried that too and still on the market, we wouldn’t be able to even pay half the debts but would be a start but then we would have to go to rented.
My dad past away less than a month ago which has my spiralling, put on a stone in the past month alone.
I feel so alone.

Debt and Mental Health - How have your debts affected you?

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