Over 660,000 Scots say debt has impacted mental health problems

A new Citizens Advice Scotland (CAS) report has found that over 660,000 people cite debt as impacting their mental health.Analysis of polling from research company YouGov suggests around 665,148 of people in Scotland have seen their mental health and wellbeing affected by debt. CAS Financial Health spokesperson Sarah Jayne Dunn said “There is a clear…

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One in four small business owners mental health has deteriorated

One in four small business owners (24%) has felt that their mental health has deteriorated under the strain of managing their business finances with Purbeck Personal Guarantee Insurance. Purbeck says whilst one in four is far from positive, it is a significant improvement from 49% in the same survey last year and underlines the tenacity…

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Soaring mortgage rates hit 14m people’s mental health

New research from Mind has found that almost a third (29 per cent) of people (almost 14 million) in England and Wales have been affected by hearing about or experiencing increasing mortgage costs over the last year. One in ten (10 per cent) said that it had affected their mental health a lot. The figures come…

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Soaring mortgage rates impact 14m people’s mental health

New research has revealed the impact rising mortgage costs are having on people’s mental health, as well as their finances.   Findings from Mind, the mental health charity, show almost a third (29 per cent) of people (almost 14 million) in England and Wales have been affected by hearing about or experiencing increasing mortgage costs…

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Debt causing mental health ticking time bomb

80% of consumers getting debt help say their mental health has affected their finances, according to a survey carried out by Money Wellness, Money Wellness surveyed their existing customers to find out how being in debt had affected their mental wellbeing and find out more about the link between mental health problems and money worries.…

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More than half of mortgage holders struggling with mental health

A new survey of homeowners who pay a mortgage, conducted by independent market research firm Danebury Research on behalf of global technology specialist Dye & Durham, fas found that the ongoing cost of living crisis is affecting the mental health of more than half (56%) of UK mortgage holders who have genuine concerns over their…

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Only 14% of consumers with a mental health problem have told their financial services firm

9th November 2022 Consumer Collections | #mental health

New research by the Money and Mental Health Policy Institute has found that only 1 in 7 consumers (14%) with a mental health problem have told their financial services firm about their condition. Money and Mental Health’s research shows that getting the right support from a financial services firm to disclose a mental health problem…

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People experiencing mental health problems twice as likely to fall into debt due to fraud

People experiencing mental health problems who fall victim to fraud are less likely to get their money back and twice as likely to fall into debt, Which? research has found.  The consumer champion’s survey of more than 1,000 fraud victims revealed one in five (19%) of those with mental health conditions felt embarrassed about reporting…

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Worsening cost of living crisis impacting mental wellbeing

As the cost of living crisis continues to worsen, the impact on households is continuing to evolve, with people suffering psychologically as well as financially, as revealed by the latest Inflation Nation report from the Yorkshire Building Society. According to the report, more than two thirds (67%) of adults are concerned by the impact of…

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Three quarters of Scots mental health has been negatively impacted by pandemic debit

More than three-quarters of Scottish adults impacted by debt during the pandemic say their mental health has been negatively impacted by it according to new polling for Citizens Advice Scotland (CAS). Polling for the charity by YouGov found that 77 per cent of Scottish adults in debt or at risk of debt since the Covid-19…

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Lockdown doubled risk of mental distress

23rd February 2022 Consumer Collections | #mental health

Adolescents aged 17-19 years old with previous mental health issues were 100% more likely to have suffered further mental distress as a result of the Covid-19 lockdown, according to new research by the University of Roehampton. The study, conducted during the UK’s first national lockdown in response to Covid-19, comprised nearly 1,000 adolescents from the…

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Millions with mental health problems missing out on Equality Act protections from banks

2nd February 2022 Consumer Collections | #mental health

Millions of people with mental health problems say they are missing out on Equality Act protections from banks and other essential services firms according to new a report by Money and Mental Health Policy Institute. The research found that many banks and other essential services providers are likely to be failing to meet legal duties set…

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2.8m people with mental health problems fell into council tax debt during pandemic

11th November 2021 Consumer Collections | #mental health

Over 2.8 million people with mental health problems fell into council tax debt during pandemic according to new research by Money and Mental Health. The research shows that people with mental health problems have been hit particularly hard financially during the pandemic, with two in five suffering a drop in income, and three in ten…

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