UK charity reveals link between debt and depression

Feb. 8, 2011 - PRLog -- Debt worries are leading to mental health problems for many consumers, according to a charity based in Plymouth called Mind.

One in six calls being received by Mind in Plymouth is now related to financial stress, according to BBC reports. Mind director Richard Wakerell told BBC News that someone who has suffered mental illness is three times more likely to be in debt than someone who has not

He explained: 'Sleepless nights develop into a regular pattern and people have that burden and that anxiety gnawing away at them all the time. If they don't do anything about it it's just going to build and build and build.'

Sleepless nights can be caused by worrying over debts, further adding to the depression facing the individual and if you add on the further stress of constant telephone calls then this will also have an impact to the well-being of the individual.

An estimated 500,000 Scottish residents are thought to have debts of £15k of more. Many of those people are struggling with their finances and mostly unsure which options are open to them.

If you are in a position where you feel overwhelmed with your debt, you should seek immediate advice from a free and impartial service such as the CCCS.
There are options open to you depending on your situation. In 2010, thousands of Scottish residents opted for a Trust Deed.

In Scotland, Trust Deeds uses government legislation to write off debt that an individual cannot afford to pay. To be eligible, you must owe more than £10k and be able to pay at each £150 per month to creditors, after expenditure is deducted from income.

The arrangement will typically last for three years but perhaps most importantly for those with depression, it helps to show them that there is light at the end of the tunnel and when signed and agreed, it will remove any creditor calls and ensure that the well-being of the individual is restored.

http://www.trustdeedscotland.net

http://www.youtube.com/watch?v=0TMiY2Vyywg



# # #

Trust Deed Scotland are Scotland's largest introducers of Trust Deeds with offices based in Glasgow, Aberdeen and Ediburgh.