According to experts from mental health charity Mind, the problem could get worse as the credit crunch pushes up the cost of living and the number of house repossessions.
In a recent survey, it found that 91 per cent of people with financial problems felt that debt had negatively affected their mental health, and that 83 per cent had been treated unsympathetically, despite their fragile mental health.
Paul Farmer, chief executive of Mind, said: "People living with mental health problems are particularly vulnerable to being trapped in a cycle of debt and poverty.
"With many unable to work due to ill health, Mind has found that people are becoming dependent on credit to pay for everyday essentials," he added. "This is a worrying trend as people are left facing a debt mountain that they have no means to repay."
According to the research, nearly three quarters of people with mental health problems run out of money on a weekly basis. Mind called on banks and creditors to find ways to help such people, rather than hassling them for repayments.
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