Serious debt 'affects work and life quality'

Falling into serious debt can affect the quality of your life, a new study has indicated.

Research conducted by talkaboutdebt.co.uk indicates that 27 per cent of those with major financial concerns believe debt has affected their work performance, while one in five have been forced to stay off work because of stress.

Some 15 per cent of those surveyed by the free debt advice site said they had needed days off work to sort out their problems.

Other symptoms of debt worries include a lack of concentration, more frequent mistakes and an inability to sleep, the study indicated.

Jessica Bown, an independent financial journalist, who writes for the site, said the impacts of serious debt are "incredibly far-reaching".

She stated: "It's clear that when stress levels get so high as to cause lack of sleep and time off work, then something needs to be done.

"It is clear that debt stress can have terrible consequences, and we want to make sure that people get the right kind of help and don’t have to suffer alone."

Beccy Boden Wilks, spokesperson for the Money Advice Trust, recently claimed that people in debt should prioritise their repayments.

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2009-10-20 10:17:06 © Moneyextra.com