6 June 2006
New research suggests that the majority of those experiencing debt problems keep their partners in the dark over the issue.
The study commissioned by Debt Free Direct found that seven out of ten people with serious debt issues did not tell spouses.
Family and friends were the first to know, although 12% opted to keep quiet on their money problems altogether.
Debt Free Direct published the findings in an attempt to encourage couples to take a more open approach to their financial position, hoping that this will avoid worse problems further down the road.
The service's chief executive Andrew Redmond, said: "People hide debts for many reasons, but often it's to try to avoid facing up to the realities of their situation. In our experience, if couples openly share details of their finances then they are more likely to seek help earlier."
He explained: "People can be terrified about breaking the news to their partner. The best way to cushion the blow is to have already assessed the options and have a proposal for getting out of debt."
Compare secured loans and find the best secured loan for you with the uSwitch.com loans comparison service
© 2008 Adfero Ltd
Content for the uSwitch.com market news service is provided by a third party, Adfero Ltd. Whilst uSwitch.com makes reasonable efforts to check the reliability of this content, uSwitch.com does not guarantee the accuracy thereof or endorse the views or opinions given by Adfero Ltd, unless expressly stated otherwise.