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Credit card charges: Financial squeeze 'damaging mental health'

People struggling to meet loan charges or deal with their credit card claims could be putting their mental health at risk.

Consultant psychiatrist and director of the Anglo European Clinic Lars Davidsson pointed out that difficulties paying mortgages and bills can increase levels of stress and depression among people.

"There is a connection between the financial downturn and mental health," he remarked, noting that cashflow problems relating to redundancies or troubles paying the loan charges on a mortgage "puts extra pressure" on men and women.

Furthermore, while there ought to be plenty of support for people with mental health problems available, the expert said: "I don't think there is."

He pointed out that reducing the expenditure of the NHS by 20 per cent in the coming years has put the healthcare system under "great financial pressure".

Even students are feeling financial stresses at the moment, with 61 per cent of university attendees polled by claiming money was one of their most significant causes of anxiety at present.

Jennifer Haines
Jennifer's speciality knowledge is credit card changes and balance transfers.ADNFCR-2776-ID-801465217-ADNFCR

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