Illness caused by debt has doubled
08/07/2010Debt problems are causing millions of Britons to suffer from money sickness syndrome, with numbers doubling since 2006.
A new study from AXA shows that nearly nine out of ten adults suffered physical and psychological problems caused by money worries, with two-thirds experiencing increased stress levels over the last 12 months.
It goes on to report that stress caused by financial and debt problems can affect managers down to people on the minimum wage and can strike in any part of the country.
The rising cost of living and bills were pinpointed as the main causes for stress, whilst high level managers also had concerns over debt repayments.
A quarter of people surveyed were doing nothing about their financial woes, whilst only 3 per cent were getting debt advice.
Kevin Still, director of Atlantic Financial Management, says: "The low proportion of people seeking debt advice when they are suffering from financial stress is a concern.
"It is not uncommon for people either to ignore debt problems or to pay the wrong creditor ahead of another, potentially putting their home and assets at risk."
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