Men more likely to ignore debt burden
Published 02/03/2014 | 02:30
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.
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