People who cannot keep up with their credit card payments may be at an increased risk of mental health problems, a new study indicates.

According to UK researchers, levels of debt have increased significantly in recent years as a result of the recession. They decided to look at the relationship between health and unsecured debt.

Secured debts are tied to an asset that is considered collateral for the debt. For example, a mortgage on a property is considered a secure debt. However, unsecured debts refer to debts that are not backed by an underlying asset, such as credit card debts, utility bills and medical bills.

The researchers undertook a review of all the previous studies that had been carried out on this issue. These studies involved almost 34,000 people.

The review found that people with unsecured debts were at least three times more likely to have a mental health problem compared to those who were not in debt.

In fact, those in debt were more likely to suffer with depression and psychosis and were more likely to be dependent on drugs.

The findings also indicated that people who die by suicide are more likely to be in debt.

Overall, less than one in 10 people with no mental health problems were in debt. However at least one in four people who was in debt had a mental health problem.

Commenting on the findings, Dr Thomas Richardson of the University of Southampton, said that they show a ‘strong relationship' between mental health and debt, however it is difficult to say which causes which.

"It might be that debt leads to worse mental health due to the stress it causes. It may also be that those with mental health problems are more prone to debt because of other factors, such as erratic employment.

"Equally it might be that the relationship works both ways. For example people who are depressed may struggle to cope financially and get into debt, which then sends them deeper into depression," he explained.

Dr Richardson suggested that debt advisors ‘should consider asking about mental health when speaking to members of the public'.

"Similarly mental health professionals should ensure they ask about whether their patients are in debt," he said.

He called for further research in this area to ‘show exactly how debt leads to poor mental health, so that interventions can be designed to try and prevent those in financial trouble developing mental health problems and vice versa'.

Details of these findings are published in the journal, Clinical Psychology Review.

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