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PayPlan backs launch of Money and mental Health Policy Institute PDF Print E-mail
Monday, 07 March 2016

“As an organisation that helps some of the most financially vulnerable people in the country, we’re all too aware of the far-reaching implications debt can have. PayPlan is therefore backing the launch of the Money and Mental Health Policy Institute. 

“The issue of mental health and money problems has been talked about for a long time and now’s the time for action. Our own research of 9,000 people in debt found 91 per cent admitted to feeling stressed about their finances, 82 per cent acknowledged regular bouts of anxiety, 60 per cent suffered depression and 62 per cent experienced insomnia

“This is further compounded by our additional research which shows over 80 per cent of people say they wouldn’t tell their partners about the true extent of their debt because they’re too embarrassed or worried about how they will react. This is isolating vulnerable individuals even more at a time when external support is needed most.

We hope the new Institute will be focused on making changes and work alongside free advice providers like ourselves to highlight issues and make a difference to the hundreds of thousands of people suffering in silence.”

Rachel Duffey, CEO at free debt advice provider PayPlan.

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