What has research shown about the relationship between debt and mental health?

The Royal College of Psychiatrists delivers programmes which make a difference to the everyday lives of people with mental health problems, and those working with them. Since 2006, we have run a research and  intervention programme addressing the relationship between financial difficulties and mental health.

Our work has included:

• NEW A systematic review of the relationship between debt and mental health problems - this has been published in the Mental Health Review Journal (abstract only), while an earlier report provides a summary of some of the key findings.  

• NEW qualitative research with debt advice and debt collection staff, plus our survey of 1300 staff in 19 different banks and debt collection agencies to assess the gap between 'best practice' and 'actual practice' when working with customers with mental health problems.

• Economic modelling of the cost-savings accrued from preventing debt-related mental disorder by providing money advice services (with the London School of Economics and Political Science).

• Distributing almost 250,000 copies of our Final Demand booklet which gives health and social care professionals key guidance on working with people with mental health and debt problems (click here for: 'Final Demand booklet - web version' and Final Demand booklet - pdf version).

• Developing tools to help money advice services and creditors collect medical evidence needed to make more effective decisions about action to take with indebted people who report a mental health problem (click here for: Tools for worker - Debt and Mental Health Evidence Forms).

• Assisting with the development of new guidelines on working with indebted customers with mental health problems for the creditor and money advice sector.