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Friday 22 August 2014

Men more likely to ignore debt burden

Published 02/03/2014 | 02:30

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Louise McBride

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Many people in debt consider suicide before seeking help, according to a new report by Grant Thornton.

The report, Navigating through the emotion of debt, examined the effects of living with debt, and how people reacted to it.

* All of those interviewed by psychologists said they had suicidal thoughts before seeking debt advice.

* Men are more likely than women to bury their heads in the sand when it comes to debt.

* Women are more open and emotional than men when dealing with debt.

* Women often feel guilty about not recognising problems earlier on and are more prone than men to feeling ashamed about debt.

* Most of those who sought help with debt did so after being put under pressure by creditors. Health issues also prompted many people to get advice.

* The problems experienced by people before they got in control of their debt continue to affect them even after they resolve their difficulties.

Sunday Indo Business

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