When debts start to mount up, it can have an adverse effect on an individual’s mental health and well-being.
This guide offers lots of helpful information such as:
- Understanding the impact of debt to mental health – the different kinds of debt (e.g. tax debt) and how they can be a key source of stress, depression, and anxiety if not planned and managed properly.
- Advice for dealing with debt such as setting up a Debt Management Plan or an Individual Voluntary Arrangement (IVA), qualifying for a Debt Relief Order (DRO), or even filing bankruptcy to get some protection and keep life essentials like pension savings safe from creditors.
- What to do if debt problems begin affecting your mental health. This includes recognising the symptoms and early warning signs of mental health problems associated with debt as well as advice on where to turn to for help and support.
- Other useful information and resources, including debt charities and organisations that are dedicated to helping people conquer their debt problems
Tax Debt and Mental Health: https://www.riftrefunds.co.uk/tax-rebates/uk-tax-refund-advice/tax-debt-and-mental-health/