Debt & Suicide: Feeling Suicidal Due to Debt

As we’ve mentioned, just one single factor can rarely be pinned down as the cause of why somebody takes their own life. Instead, it’s often the culmination of several factors that leave people feeling trapped, overwhelmed, or like they’re a burden to others, which can cause suicidality. These feelings aren’t just associated with mental health issues, though – they’re also commonly felt by those struggling with debt. The overlap in how mental health and debt problems can make people feel is the thing that most often links these two together.

According to A Silent Killer Report by The Money and Mental Health Policy Institute [Source: Report], people in problem debt are three times as likely to have thought about suicide in the past year. The risk of suicide also becomes much higher for those with multiple debt problems.

One of the biggest issues with problem debt is that many will suffer in silence. This might be because they don’t want anybody to know they’re struggling, don’t feel comfortable sharing information about their personal finances, or due to the nature of the debt if it’s linked to other personal issues such as gambling. A double stigma exists around financial difficulties and suicide, which can also make people less likely to speak up about suicidal thoughts. All of this can cause feelings of isolation, loneliness, frustration and hopelessness. When people experience the lack of control that can come with dealing with problem debts, they can become more vulnerable to suicidal thoughts, especially without a good support network.