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More than 100.000 people with debt problems attempt suicide each year in England

Campaign to stop intimidating language │ Money and Mental Health Institute

Over 100.000 people with financial problems try to kill themselves every year in England. The new report of the Money and Mental Health Policy Institute has revealed that people in problem debt are three times more likely to consider suicide compared to those who are not in problem debt. Every year 420.000 people in England consider taking their own life.

Persistent poverty and financial insecurity have been identified as the main issues around committing suicide. However, the data of the report has also warned that other sudden triggers such as intimidating and threating letters people receive from lenders could also have a negative impact on these people.

The Founder and Chair of the Money and Mental Health Policy Institute, Martin Lewis, said that ‘the fact a law set decades ago doesn’t just allow companies to use intimidating language when collecting debt, but near forces them to do so, causes tragedy. The last thing those struggling with debts need is a bunch of near thuggish letters dropping through the letterbox, in a language you can’t understand, threatening you with court action. And with such a tight link between mental health and debt crisis, we know many of the people receiving these letters are extremely vulnerable’.

To fight against this issue, Money and Health has launched the new campaign ‘Stop the Debt Threats’ to end the use of intimidating and inaccessible language and content in lender’s letters. The organisation has announced this project in partnership with other mental health and debt organisations such as Samaritans, Citizens Advice, and the Royal College of Psychiatrists.

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