Credit, collections & insolvency news
Young people are three times more likely than older generations to have their mental health impacted by money worries, research from responsible lender,Creditspring reveals. Four in ten (39%) people aged 18-34 say theirmental health has significantly worsened as a direct result of the cost of living crisis, compared to just 13% of over 55s. Three in…
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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 (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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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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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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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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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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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 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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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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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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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 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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