How does debt affect us?

How does debt or the fear of debt affect us? Any GP would recognise the signs. A quarter of those in debt are receiving treatment for stress, depression and anxiety. Any partner would recognise the short temper, loss of sex drive and moodiness. Here are some common symptoms:

• Ignoring or denying the problem: 50% of people in debt will wait a year to ask for help. Not opening bills is very common. Often court proceedings are the trigger to ask for help.
• Fear, loneliness and isolation: many people who get into debt become very afraid, don't answer the phone or go out and have unnecessary fears about losing their home, going to court or being imprisoned. Many cut themselves off from their friends. Part of the problem can be pride.
• Stress and related illnesses: Constant worrying can wear you down and lead to severe anxiety, depression and stress. One GP has invented the phrase Money SIckness Syndrome.
• Relationship and family breakdown: money worries are a major cause of breakdown in many relationships. By not telling your partner what is happening you run the risk of destroying the trust between you and this is far harder to sort out than any debt problems.
• Despair and guilt: As bailiffs call and more creditor letters arrive it is not surprising that many people fall into despair or simply give up. Some tragic cases can even lead to suicide.