Crisis for Brits as a third are in more than £1,500 worth of debt due to illness.
- 43% of Brits with a health issue or illness have said that when running medical equipment, the rising energy rates have resulted in a huge increase in energy bills
- More than a third (34%) have struggled to make bills or mortgage payments because of debt related to their health issues
- 65% of people in debt because of a health issue or illness don’t know where to turn to for support
Almost a third of Brits with an illness/ injury amassed £1,500 worth of debt
New research has revealed that, worryingly, almost a third of Brits (30%) with an illness or injury have accumulated more than £1,500 worth of debt.
In fact, the relationship between finance and health has increased searches for “help with health debt” by 200% over the last 12 months. Prompting credit management company Lowell to conduct a nationwide study to discover how health issues for people in the UK are affecting their finances and personal lives.
When asked how their debt is affecting their personal lives, more than half (56%) of those with debt from an injury or health issue say it is isolating them socially from their friends and family. Almost one in five (19%) reveals that it is causing tension between them and their partners.
How has an injury or health issue affected people’s financial situations?
The rapid rise in energy bills has added financial pressure to those with medical equipment at home. 43% claim their fees have increased, with no way of controlling the increased bills or the equipment required. Over a third (37%) aren’t able to work due to illness or injury. Reducing their income and adding to the pressure of keeping up with payments.
Medical bill costs affect 36% of people’s finances. Whilst 15% have had to pay to install new features in their houses. One in ten (11%) are also paying for carers and support.
| How has your injury or health issue affected your financial situation? | Percentage |
| Increased energy bills due to rising tariffs and medical equipment use | 43% |
| I’m not/was not able to work due to illness or injury | 37% |
| Cost of medical bills | 36% |
| I have had/had to install new features into my house | 15% |
| I have had/had to move to more suitable accommodation due to my injury/illness | 13% |
| I have had/had to find the money for a carer | 11% |
How has the debt affected families financially?
As well as personal finance issues, debt through health or illness problems is also having a knock-on effect on families.
Almost half (45%) are now claiming benefits to cover extra costs. Whilst one in five (21%) say their family has now accumulated debt in order to support them. Family members are also taking up a second job for further income support (20%).
| Has your illness or injury affected your family financially in any of the following ways? | Percentage |
| My household has/had to claim benefits to cover costs | 45% |
| My household has/have struggled to make bill or mortgage payments | 34% |
| My family has/had also accumulated debt in order to support me | 21% |
| My family has/have had to cut down hours or quit their job to care for me | 21% |
| My family has taken/had to take on a second job or income in order to support me financially | 20% |
Worryingly, 65% of people in the UK admitted they didn’t know where to turn for support and advice on how to manage debt when experiencing a health, illness, or injury issue.
John Pears, UK CEO of Lowell UK, said, “Problems in health are always difficult for both the person experiencing them and their loved ones. This survey supports what we see day in and day out here at Lowell, which is the huge detrimental impact it can also have on their finances, exacerbating an already difficult situation.
As well as health issues being the source of debt for many, the knock-on effect of the debt is causing relationship, social, and family issues, and we want to ensure people know where to turn for support.
We’d like to remind anyone looking for financial support or options in overcoming debt after health issues to visit their blog here
Broke Girl Top Tip
On benefits? Check what else you may be entitled to.
If you’re receiving certain benefits, you may qualify for extra help with things like energy costs, prescriptions, travel, or other household expenses. If you use medical equipment at home, ask your energy supplier what additional support is available.
Regular prescriptions? Work out whether a NHS PPC will save you money?
Check whether an NHS Prescription Prepayment Certificate could save you money. Instead of paying for every prescription separately, you pay a set amount that covers your NHS prescriptions for the period.
Don’t assume you have to be completely out of work to qualify for help — check first.
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