Home > News > Debt advice

More than 4 million fear they`ll be made redundant Consumers took on more mortgage debt in July Debts called in by parents Teenagers `scared of debt` Rising household costs could pressure people in debt Pensions debt may impact workers` retirement funds Welsh young adults `at highest risk of debt problems` Over 50s can`t afford to enjoy retirement because of debts Budget: tackling the nation`s debt Short-term debt: `no need for price control` The cost of clearing debt Education debt Tackling the national debt Number of mortgage deals on offer exceeds 3,000 Almost 5 million take on debt to pay household bills OECD: household debt more than 120% of disposable income Petrol price falls help people in debt Amount of mortgage debt taken on at lowest level in ten years Northern Ireland sees significant IVA rise Overdraft debt `becoming more expensive`

£450mn spent on treating stress from debt

18/09/2009

According to the campaign group London Health Forum, around 250,000 Londoners suffer from mental health problems because of debt, costing the NHS in London around £450mn a year, The BBC reports.

London Capital of Debt, a report conducted by the Forum, found that around one million Londoners suffer from mental health problems - and a quarter of these are worried about debt.

The campaign group highlighted the importance of seeking early debt advice to deal with unmanageable debt, and suggested that NHS London should ask local GPs to encourage people to seek debt advice sooner rather than later. It also pushed for local councils to promote both online and face-to-face debt advice organisations.

A spokesperson for Debt Advisers Direct commented: "We would advise anyone struggling with their debts to seek professional advice as soon as possible.

"People who obtain debt advice as soon as they realise they have a problem are simply less likely to suffer from stress, and more likely to get out of debt sooner - before their debt reaches unmanageable levels.

---

Debt Advisers Direct offer free debt advice and a range of debt solutions, including debt management plans, debt consolidation loans and IVAs (Individual Voluntary Arrangements).

More than 4 million fear they`ll be made redundant 16/12/2010 - According to R3`s quarterly personal debt tracker, more than 4 Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according