Fight depression and debt with the right Debt Management Solution

Total personal debt in the UK now stands at £1 trillion pounds. With bankruptcy hitting record levels, can extreme debt cause depression? And with the right debt management solution, can this misery be avoided?

The burden of debt can be crippling and more and more of us in the UK have to find a debt management solution to cope.

This year 1,600 cases of extreme debt - clients with over 100,000 in unsecured loans - were dealt with by the UK's biggest debt charity. The UK has two-thirds of credit card debt outstanding across the EU. And although debt is becoming more and more 'normal' for our society, if you don't have an adequate debt management solution in place, the financial and emotional fall-out can be disastrous.

Debt and depression

Surveys in America have shown that nearly half of people struggling with debt experience symptoms of depression.

It's not hard to see a direct link when you look at the symptoms of depression. Depression combines feelings of hopelessness, inadequacy and other negative emotions and behaviours. The less competent you feel about finding a solution to your debt management, the more stressed you become.

The stress of debt in itself can prompt feelings of fear and anxiety, and 70% of the people questioned in the survey revealed they think about their debt very often or constantly. It is little wonder then, that depression and debt are linked.

Symptoms

Depression is very common - the feeling of being unable to cope with life and not really knowing why. Sometimes, however, it can be linked to concrete problems, such as debt. Finding a solution for the management of your debt will help you regain a sense of control.

You should consider seeking help if you suffer:

• Tiredness with no energy, motivation or enjoyment in life.
• Loss of appetite and difficulty sleeping.
• Sustained feelings of unhappiness and not wanting to socialise or be around other people.
• Difficulty in making simple decisions.
• Feelings of worthlessness or negativity, or if you have suicidal thoughts.

Helter-Skelter

If you are not actively looking for a debt management solution and are suffering from depression then you can end up spiralling more and more out of control. The depression creates an inability to act or conquer that financial fear. Becoming emotionally paralysed means it is hard to develop a plan of action and financial problems are compounded.

Professional help

It is important if you haven't already lined up a suitable debt management solution that you seek professional advice and help. Psychologists and doctors should help you sort out your emotional health, and an independent financial adviser will steer you back to financial health.

For advice on finding a suitable debt management solution, visit MRA Debt Help at www.mradebthelp.co.uk, or call 0800 612 92 23.

For independent financial advice, visit our sister company, Mike Robertson Associates, at www.mraltd.com. You can email an independent financial adviser for professional help, or call 0870 803 1995.