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on Monday, 06 December 2021. Posted in Local News

Indebtedness is often discussed in terms related to debtors’ short- and long-term financial health, but debt also can have an adverse effect on individuals’ mental health. A 2014 study published in the journal BMC Public Health examined the effects of debt in the aftermath of the global financial crisis that began in 2007 and extended into 2008. The authors of the study found that individuals with unmet loan payments had suicidal ideation and suffered from depression more often than those without such financial problems. The 33 peer-reviewed studies examined by the authors of the 2014 study covered various types of debts, including medical debts, mortgages and credit card debt. Each type of debt produced negative health consequences, though individuals who failed to pay their mortgage or had their homes repossessed reported an especially high prevalence of mental and physical health impairments. MM21C522