This report was published in March 2018. Please be aware that more current information may exist and that its positions may no longer reflect those of RSPH.
Life on Debt Row
The report includes a league table of credit types according to their impact on people’s mental health. Credit unions proved to have the least serious impact on mental wellbeing, while payday loans and unauthorised overdrafts proved to have the worst effect on mental wellbeing
What we're calling for
RSPH is calling for action from the Government and the industry itself to protect the health and wellbeing of credit users, including:
- An end to targeted marketing of high interest loans to vulnerable individuals
- Health warnings on the marketing and credit agreements of the most unhealthy forms of credit, highlighting the potential negative consequences of problem debt
- Lenders to train all employees in carrying out mental health assessments before providing credit
- Better signposting to debt and mental health services by lenders, health services, local authorities and universities
Life on Debt Row report launch
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Life on Debt Row report launch
From left: Peter West (Campaigner), Philip Woodward (Chair of RSPH), Michael Sheen (Founder of the End High Cost Credit Alliance), Professor Sian Griffiths OBE (RSPH board member), Carolyn Harris MP, Shirley Cramer CBE (CEO of RSPH)
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Lucy Heard
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Mental Health UK
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Sharon Hodgson MP
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Faith Action
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The Young Foundation
49% of credit users who drink alcohol
drank more as a result
of stress associated with their debts
sleep quality declined
76% for credit users as a result of the stress of being in debt
65% of credit users
spent more time alone
because their debt made them feel to depressed or distressed to spend time with others
Key facts
