New research has revealed that worryingly almost 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 months1, which has prompted credit management company Lowell to conduct a nationwide study2 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%) reveal that it is causing tension between themselves and their partners.

How has an injury or health issue affected people’s financial situations?

The rapid rise of energy bills has added financial pressure to those with medical equipment at home, with 43% claiming 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 are affecting 36% of people’s finances, whilst 15% have had to pay to install new features in their house. One in ten (11%) are also paying for carers and support