People suffering from mental health problems are five times more likely to have a debt crisis than the rest of the population, research has indicated.

Around 44 per cent of people who have a mental health problem, or who have a partner with one, have severe or crisis level debts, compared with just nine per cent of people who do not have any mental health issues, according to MoneySavingExpert.com.

At the same time, only 40 per cent of people with mental health problems have either never been in debt or have only ever had limited debts, compared with 75 per cent of the rest of the population. The group said many people were stuck in a downward spiral in which mental health problems could cause severe debt, while severe debt could cause mental health problems.

But it said the sheer scale of the problem was hidden because of the stigma attached to both issues.

Martin Lewis, creator of MoneySavingExpert.com, said: “We can no longer divorce how people deal with debt emotionally and how they deal with it practically.

“With so many suffering from mental health problems, as a nation we need to think about how we help those who, often temporarily, can-not be responsible for themselves.” He said simple steps that could be taken included allowing people to voluntarily register their mental health problems, so that banks could track unusual spending patterns, and cut off accounts until a trusted person said it was all right to allow access again.

The group has launched a 40-page guide, which is available at www.moneysavingexpert.com/mentalhealth, providing help for people with mental health problems who are in debt, as well as information for their families and carers.

The guide, which has been written with guidance from charities such as Mind, Rethink and Christians Against Poverty, gives details on where people can find free one-to-one debt counselling, how to work with banks and tips for people with bipolar disorders and depression.

The group said research suggested that 44 per cent of people seeking help with debt had been prescribed medication to help them cope, while 38 per cent had considered suicide as a way out. Paul Farmer, chief executive officer of mental health charity Mind, said: “When people’s mental health deteriorates, it can be even harder for them to deal with debt, and the more their debts add up, the worse they feel, setting up a cycle of debt and despair that is very difficult to break.”