Banking and debt collection staff should to be given mental health awareness training to combat growing ‘debt depression’ a Fine Gael TD said today.
Party spokesman on mental health Dan Neville warned that people with mental health problems are three times more likely to be in debt and he called on creditors not to “hound” their customers.
He said: “Banks should adopt a system where customers can choose to have their account monitored for erratic spending to better protect their finances.
“Changes in practices, such as waiving fees when a customer has been unwell and introducing mental health awareness training for bank staff will make all the difference.”
Citing a UK report, the Fine Gael deputy said 87 per cent of people with a problem due to debt rely on credit to pay for food and everyday costs.
“Money worries aren’t just keeping people awake at night; they are causing high level of stress, depression and in some cases self harm and suicide.”
“At a time when people across the country are anxious about their finances, debt depression is a real and growing concern.”
“The Government must give leadership in this area and ensure that there are resources available to the psychiatric services to deal with this fallout from the present economic crisis,” Dr Neville added.