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Creditfix, the UK’s largest personal insolvency practice has released new figures that show that personal debt is having a negative impact on the mental health of individuals affected by financial problems.

In a UK-wide survey of people currently in an Individual Voluntary Arrangement or Protected Trust Deed (IVA/PTD) with Creditfix, 74 per cent of respondents said their personal debt situation had directly led to poor mental health, such as increased anxiety, depression and insomnia.

Of this, 83 per cent experience poor mental health, 32 per cent said they experienced increased levels of anxiety or stress; whilst 22 per cent said they had suffered from insomnia and other sleep related problems. Depression was also cited amongst those tackling debt, with 15 per cent of the people reporting poor mental health saying they felt depressed as a direct result of their increasing debt.

The results of the survey also show that 6 per cent of...

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