A Report prepared for Consumer Action Law Centre 

by Dr Eve Bodsworth, Brotherhood of St Laurence 2013

For those who could see no way to resolve their financial difficulties, the initial 

anxiety around unpaid debts often became a constant, low-level stress and 

depression, with growing sense of resignation about their situation. These findings 

confirm the findings of others regarding the impact of debt upon an individual’s 

mental health and relationships: the direct impacts of problem debt include anxiety, 

stress and depression; difficulty paying debt is an independent predictor of suicidal 

ideation; and links have also been found between problem debt and self-harm 

(Fitch et al. 2007). Debt has been found to affect debtors’ social relationships, 

putting strain on existing relationships as well as causing social isolation and 

exclusion (Fitch et al. 2007). Debt problems have also been associated with health 

deterioration in general, increased pressure on marriages and relationships and 

adverse affects on work attendance and performance (Ryan 2009). 

I UNDERSTAND THE FINANCIAL COST OF THE BANKS FRAUD AND DECEIT BUT WHAT ABOUT THE HUMAN COST?????

WILL THE BANKS, EDR'S, ASIC...THE OMBUDSMAN MR FIELD...EVER SINCERELY UNDERSTAND THE DEVASTATING IMPACT THE BANKS HAVE HAD ON US THE CONSUMERS OF THEIR TOXIC PRODUCTS.

I personally struggle with 'Generalised Anxiety Order' and am now working with my GP around treatment options. 

The chronic insomnia, the night terrors and sweats, the heart palpitations, the panic attacks, the depressed moods, the lack of enjoyment in the everyday! The list could continue indefinitely....THE HUMAN COST OF THIS BANK FRAUD SHOULD NOT TO BE UNDERESTIMATED- WHEN DO WE GET OUR LIVES BACK??

The ongoing attack and destruction by these banks of the basic needs of human beings; food, shelter, clothing is an absolute disgrace. Mr Abbott, would you act if it was your daughter, son, grandchildren, parents, relatives, close friends facing this life destruction by the banks??

To all the victims that are struggling with the stress and health related issues that this situation has engulfed us all with please use the supports you have around you, your GP can provide you with a mental health plan to obtain 6x free counselling sessions, there is Lifeline 13 11 44- We must look after ourselves during this situation, I'm sure you would all agree that the stress of it all is making us physically and emotionally unwell. Take care of yourselves each and everyday and we all must continue putting one foot in front of the other until the TRUTH and JUSTICE brings an end to this country's human disaster.

Maggie M