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Over 50s can`t afford to enjoy retirement because of debts Budget: tackling the nation`s debt Short-term debt: `no need for price control` The cost of clearing debt Education debt Tackling the national debt Number of mortgage deals on offer exceeds 3,000 Almost 5 million take on debt to pay household bills OECD: household debt more than 120% of disposable income Petrol price falls help people in debt Amount of mortgage debt taken on at lowest level in ten years Northern Ireland sees significant IVA rise Overdraft debt `becoming more expensive` School focuses on "curing Ireland`s debt disease" Debt: lending to fall this year Debt consolidation - time to check Offset mortgages could give more protection against debt than ISAs Growth of debt slows down in March Fifth of Brits admit their debt worries them Mortgage approvals rise; unsecured debt falls

Debt, unemployment and stress damaging our wellbeing

16/07/2009

According to the Liberal Democrats, personal debt, job insecurity and workplace stress are damaging our wellbeing - and depression is costing the economy around £8.6 billion a year.

Liberal Democrat MP Jo Swinson, who chairs the All Party Parliamentary Group on Wellbeing, said: "This is shocking evidence of the dramatic scale of the cost of depression in this country.

"Unemployment is already growing. In this financial crisis we can no longer afford to ignore the preventable causes of depression that are all around us. High levels of unsecured personal debt, job insecurity and workplace stress all damage our wellbeing."

A spokesperson for Debt Advisers Direct said: "Right now, many people are out of work, and experts are predicting that unemployment will rise further.

"Anyone who finds themselves out of work, and struggling with personal debt, should contact a professional debt adviser before their financial - and emotional - wellbeing can deteriorate."

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Debt Advisers Direct offer free debt advice and a range of debt solutions, including debt management plans, debt consolidation loans and IVAs (Individual Voluntary Arrangements).

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