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Bank Charges: Debt is damaging all aspects of life

Around three-quarters of people say that worries about debt are having a damaging impact on their health.

New research by the Citizen’s Advice Bureau found that the stress associated with debt can infiltrate and impact every aspect of life, from work to health and relationships.

Over half of people say they find it hard to concentrate at work because of debt, while a similar number said it was affecting their relationship with their partner.

More than a third said it was causing problems in their relationship with their children and 79 per cent said they lose sleep most nights over debt.

The study polled 1,700 people, the majority of whom had debt between £1,000 and £20,000, although one in ten had debt of over £30,000.

It comes as the Trade Unions Congress found living standards across the UK have dropped compared to other European countries as families struggle to make ends meet and pay their bank charges.

John Fieldman

Having worked in the city for 19 years, John's main focus is interest rates and corporate finance.ADNFCR-2776-ID-801507912-ADNFCR

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