Practitioners urged to be wary of client suicide

Insolvency practitioners have been asked to show greater awareness of the suicide risks inherently found in distressed debtors.

The Campaign for Awareness of Mental Illness Among Debtors (CAMIAD) thinks that insolvency practitioners are in a prime position to stem the tide of deb-related suicides, as they are in a position to raise the alarm early.

Senior mental health nurse and lead trainer of the CAMIAD, Nigel Crompton, said that during debt counselling, suicide was often the 'elephant in the room' but professionals were invariably wary about raising the issue with their clients.

"Our experience has shown, however, that most people will experience a great sense of relief if they are feeling suicidal and are asked about it in the right way. That is why it's so important that professionals are trained to be aware of these issues and know how to deal with them - it can save lives," he said.

He added that helping individuals to break the 'negative spiral' of debt and mental health problems could help creditors to achieve their commercial objectives.

Crompton also revealed that almost a quarter (24 per cent) of people with common mental conditions reported a debt problem and where their mental health disorder was severe, this rose to as many as almost one person in three.

Ian Williamson, an insolvency practitioner and CAMIAD co-founder, commented: "As professionals we have the skills and training to find solutions to people's financial problems, but we need to be trained how to be aware of any serious underlying mental health issues and how to deal with them. It can save a life.

Crompton made his remarks in an Insolvency and Restructuring Conference of the Institute of Chartered Accountants of Scotland.

Binyamin Ali is assistant editor of Private Client Adviser