Money Wellness and Rethink Mental Illness agree partnership

Debt advice specialist, Money Wellness has announced that it has formed a new strategic partnership with Rethink Mental Illness, following the company’s recent commission by Money Advice & Pensions (MaPS) to deliver free debt advice and debt relief orders in England.

Rethink Mental Illness, the national charity which aims to improve the lives of people severely affected by mental illness, will work in partnership with Money Wellness to deliver specialist and free debt advice. Dedicated advisers from the charity’s Mental Health and Money Advice service will provide self-help advice as well as casework, which includes tasks such as contacting creditors and helping people fill out forms. Mental health and money problems are often intrinsically linked. People with problem debt are significantly more likely to experience mental health problems. While people with mental health problems are also more likely to be in problem debt. Research by the Money and Mental Health Policy Institute revealed that in England alone more than 1.5 million people are experiencing both problem debt and mental health problems.

People who are struggling with their mental health and finances can contact Money Wellness with onward referral for this specialist support.

Ian Somerset, Chief Executive of Money Wellness, said “We recognise the strength in working in partnership and are developing a delivery network of specialist advice organisations with the aim of providing each customer with access to a range of relevant tools, services, and support. It’s a privilege to be working with Rethink Mental Illness as they do such a wonderful role in helping individuals who are experiencing mental illness.”

“Mental health problems often make it harder for a person to engage and communicate with essential service providers. By working together with Rethink Mental Illness, we can help to unburden people of their financial stresses and bring them a step closer to improving their wellbeing.”

Laura Peters, Head of Mental Health and Money Advice at Rethink Mental Illness, said “No one is immune to money worries, but people living with mental illness often need more support managing debt to prevent their mental health and financial problems from spiralling due to the symptoms of their condition. With so many struggling as cost-of-living pressures take their toll, we’re really pleased to be working in partnership with Money Wellness to provide more people across the country with intensive, specialised support to help them navigate their debt and improve their mental health.”