Abstract
Background: It is known that there is an association between debt and poor mental health. However, much of the literature is observational and focuses on how debt may lead to poor mental health. Here, we are interested in how poor mental health may be associated with debt advice adherence.
Aims: The aim of the study was to investigate the relationship between mental health and debt advice adherence in individuals applying for a formal debt resolution mechanism (an Individual Voluntary Arrangement, IVA).
Method: Eighty-six participants completed a survey measuring mental health (MHI-5), memory for information discussed during the appointment, attitudes towards IVAs and trust in the advisor shortly after having a debt advice appointment. Adherence to the advice (whether participants completed the IVA application) was measured ten weeks later.
Results: The study found that the sample demonstrated poor levels of mental health overall but that non-adherent participants had significantly poorer mental health than those who adhered to the advice.
Conclusion: These results suggest that (a) mental health needs to be considered when advising people with problem debt and (b) future research might examine if mental health support should coincide with important decision points in the debtor’s journey out of debt.
Aims: The aim of the study was to investigate the relationship between mental health and debt advice adherence in individuals applying for a formal debt resolution mechanism (an Individual Voluntary Arrangement, IVA).
Method: Eighty-six participants completed a survey measuring mental health (MHI-5), memory for information discussed during the appointment, attitudes towards IVAs and trust in the advisor shortly after having a debt advice appointment. Adherence to the advice (whether participants completed the IVA application) was measured ten weeks later.
Results: The study found that the sample demonstrated poor levels of mental health overall but that non-adherent participants had significantly poorer mental health than those who adhered to the advice.
Conclusion: These results suggest that (a) mental health needs to be considered when advising people with problem debt and (b) future research might examine if mental health support should coincide with important decision points in the debtor’s journey out of debt.
Original language | English |
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Pages (from-to) | 286-293 |
Number of pages | 8 |
Journal | International Journal of Social Psychiatry |
Volume | 69 |
Issue number | 2 |
Early online date | 3 Mar 2022 |
DOIs | |
Publication status | Published - 1 Mar 2023 |
Bibliographical note
The author(s) disclosed receipt of the following financial support for the research, authorship, and/or publication of this article: The study was funded by the Economic and Social Research Council [ES/S010882/1], the Business Alliance Office at Queen’s University Belfast and Aperture IVA, the company whose clients participated in the research.Keywords
- mental health
- debt
- advice adherence
- help-seeking