The findings may lead to changes in lending practices and provide new insights for mental health practitioners"New debt contracts could be offered to vulnerable borrowers and the population sectors we identified could be targeted with help in building their financial capacity," said Lawrence Berger of the University of Wisconsin-Madison.

"The findings could also be used to help mental health practitioners better understand the impact of clients' borrowing habits on depression," Berger noted.The link between such short term debt and depression is particularly strong among unmarried people, people reaching retirement age and those who are less well educated.

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