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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`

Debt & stress in the downturn

02/12/2009

Nearly 7 million people in the UK are dealing with an unmanageable level of debt and `enormous financial pressure`, says a new survey - and in some cases, financial problems are leading to physical health issues.

According to Experian`s CreditExpert and physiotherapist Sammy Margo, there is a correlation between the increase in stress caused by high levels of debt and the rise in stress-related injuries.

The findings indicate there are 6.8 million people in the UK who believe that their level of debt is `unmanageable` and that they are under `enormous financial pressure`. On top of this, 9.7 million more people believe they`ve reached the limit of what they can cope with, in terms of debt.

And since last year, apparently, there has been a 25% increase in stress-related injuries, such as shoulder and arm twinges, pins and needles or lower back-ache.

"We have seen more people suffering from stress-related issues during the downturn and concerns around the personal finances are frequently mentioned by clients as a source of worry and stress," said Sammy Margo.

"The stress of dealing with debt problems can have a serious impact on people`s lives," said a spokesperson for Debt Advisers Direct.

"It`s one more reason why it`s so important for people with debt problems to get some debt help - it won`t mean their debts will disappear overnight, but knowing they`re taking action to address their debt problems can make a big difference to their quality of life."

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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