Credit crunch is affecting mental health

Friday 10th October, 2008

It’s not just financially that people are feeling the pinch of the current economic climate, mental health is being severely threatened by the ‘credit crunch’ too, according to a new survey.

One of the biggest causes for concern is home repossession as people struggle to meet large mortgage repayments. This continued threat of losing a home is cited as the biggest cause of mental health problems, more so than losing a job or fertility problems.

Mental health charity ‘Rethink’ are calling for action to prevent a possible disaster with mental illness.

House repossession was rated as the event most likely to cause mental health problems, ahead of redundancy, or finding out about infertility.

Charity Rethink called for action to prevent a “mental health disaster” and director of public affairs Paul Corry believes GPs will notice the problem sooner rather than later.

“I wouldn’t be surprised if we see a rise in the number of people going to their doctor because of mental health problems in the coming months,” he said.

“Even for people lucky enough to hang on to their home, the stress and worry of arrears building up can be enough to harm your mental health – this survey shows it worries millions of us.”

England currently spends more money on mental health care than any other country in the EU. Mr. Corry also voiced his concerns for people who already have mental health issues. He believes they are less likely to be treated well by mortgage lenders during this difficult time and do not have a “safety net” to protect them.

Many people are turning to alternatve medicine and complementary therapy methods to help with mental health issues. As people grapple with the ever increasing demands placed on them.

Life Coaching is becoming a popular way of understanding how to organise social and professional commitments to ease the burden and relieve continued stress which can be the cause mental health problems developing.



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