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Loan refunds: Debt 'can be really damaging'

Consumers who have applied for loan refunds may be among those who have had trouble with debt over the last few months or years.

Dan Roberts, a member of the Association for Coaching and Stress Management Society, revealed that debt can be damaging to a person's health because of the stress it puts them under.

He said: "There are the major stressors, which are things like bereavement or divorce … but often you get over them and can bounce back. The thing about debt is it's chronic stress, day in day out.

"It's not something that happens then stops, I think people can find that really difficult - it can be really damaging."

Mr Roberts also noted that it is easy for people to slip into debt problems because of the current economic situation, and said he expects more people will lose their jobs over the next one or two years.

John Fieldman

Having worked in the city for 19 years, John's main focus is interest rates and corporate finance.

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