People with short-term debt, such as overdue bills or credit card debt, are more likely to be depressed than those who carry long-term debt through mortgages and other big loans, a new study suggests. “A 10 percent increase in short-term debt was associated with a 24 percent increase in depression symptoms,” said the study’s lead author, J. Michael Collins, faculty director of the Center for Financial Security at the University of Wisconsin-Madison.
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