It has been reported that as many as 8 out of 10 people in debt, claim that the situation is having serious implications on their lives, in terms of the relationships with people around them, ability to concentrate at work and general wellbeing. Many people see debt as a shameful position to be in and as such keep their problems to themselves. With no outlet for the worry and frustration associated with debt, people become vulnerable to mental and physical illnesses.
Debt is often at the forefront of many people’s minds, and the stress and anxiety will often find prohibit usual sleeping patterns. Sleep deprivation can cause problems with both physical and mental health. It’s common for anxiety to cause irritability, shortness of breath, tightness of the chest and dizziness.
It’s not just the knowing that you are in a bad financial situation, the constant calls and threat of legal action just worsen the situation. According to the Consumer Credit Counselling Service (CCCS), 37% of their clients claimed that debt had caused adverse affects on relationships with partners, whilst 22% claimed that relationships with their children had been affected.
It needn’t come to this. The first action is to admit that there is a problem. It is vital that you share your situation with others around you. Debt is an issue that affects a large proportion of the UK population and nobody in that situation should ever feel they should deal with it alone. There are plenty of resources out there to help and give advice.