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A recent report by BDO Stoy Hayward has revealed that true extent of rising business fraud across the UK. The study has shown an alarming 74% rise over the last six months and signs that worse is...
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Monday 12th May 2008
Debt worries are plunging millions of Britons further into depression, a new study has suggested.
Mental health charity Mind polled over 1,800 people, of whom 924 said they had debt worries and problems with their mental health.
Of these, over 90 per cent said that their money worries had a negative effect on their state of mind.
The study also found that 63 per cent of this group did not inform their creditors of their health issues because they assumed they would not receive a sympathetic hearing.
Mind's chief executive, Paul Farmer, said: "UK personal debt stands at a staggering £1.4 trillion but the real cost here is that on our mental health.
"Money worries aren't just keeping people awake at night - they are causing high levels of stress, depression and in some cases self-harm and suicidal thoughts.
"At a time when people across the country are anxious about their finances, debt depression is a real and growing concern."
Mind is now calling for debt collection officers to be given specialised training to raise awareness of mental health problems.
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