In recent years, the conversation around mental health has grown louder and more urgent. Mental health challenges affect millions worldwide, influencing every aspect of life—including financial well-being. For individuals struggling with mental health issues, managing debt can feel overwhelming and often worsens their condition. Fortunately, the debt collection industry in the UK has made significant strides to improve its policies and practices, offering better support to customers with mental health challenges.
A Shift in Attitudes and Practices
Between 2010 and 2016, the UK debt collection industry underwent a notable transformation. Research analyzing debt collection staff’s attitudes and practices during this period revealed statistically significant improvements. Variables like empathy, understanding, and tailored approaches to customers with mental health problems showed positive changes. This shift suggests the industry is moving toward a more compassionate and supportive framework, benefiting both customers and businesses.
While the data highlights progress, further research is needed. Understanding the root causes of this shift—whether increased awareness, training, or policy changes—can solidify these improvements and ensure they have a tangible, positive impact on customers.
Why This Debt Collection Matters for Mental Health
Debt and mental health are deeply intertwined. Financial stress can lead to anxiety, depression, and other mental health challenges, while existing mental health conditions can make managing finances difficult. By adopting more empathetic and supportive practices, debt collection agencies can help reduce the mental health burden on their customers.
For mental health professionals, this evolution highlights the importance of addressing financial stressors in treatment plans. Tools like telehealth and EMDR therapy can provide critical support for patients navigating mental health challenges and financial difficulties.
- Telehealth: Remote mental health services through telehealth make therapy more accessible for individuals who may feel overwhelmed by in-person visits. It’s a flexible option that fits into busy schedules or provides support during moments of crisis.
- EMDR Therapy: Eye Movement Desensitization and Reprocessing (EMDR) therapy effectively addresses trauma, including financial trauma. By tackling the root causes of distress, EMDR helps patients build resilience and develop healthier coping mechanisms.
The Road Ahead
The improvements in the debt collection industry mark a step in the right direction, but more work remains. Continued research, training, and collaboration between mental health professionals and financial institutions can sustain and expand these positive changes.
For individuals struggling with debt and mental health challenges, knowing that support is available—both financially and emotionally—can make all the difference. By fostering a culture of understanding and compassion, we can create a society where mental health is prioritized, and no one feels alone in their struggles.
Dr. Sara C is renowned for her expertise in EMDR, CBT, and DBT therapies. Serving California, Texas, and Oregon, including Newport Beach, CA; Beverly Hills, CA; San Diego, CA; Portland, OR; Jacksonville, OR; Dallas, TX; and Houston, TX, she is one of the best telehealth therapists available.
In case of a mental health emergency, please call 911 or seek immediate professional help.
Source:
Evans, J., Fitch, C., Collard, S., & Henderson, C. (2018). Mental health and debt collection: a story of progress? Exploring changes in debt collectors’ attitudes and practices when working with customers with mental health problems, 2010–2016. Journal of Mental Health, 27(6), 496–503. https://doi.org/10.1080/09638237.2018.1466040