Cookies on The Couple Connection: The couple connection uses cookies to ensure that we give you the best experience on our website. If you continue to use the couple connection, we will assume that you are happy to receive all cookies from this site.

13% of Brits hide debt from their partner

29 May 14:55 by admin
Tags: debt
Categories: Money

Credit cards, paying bills, student loans; many of us are stuck with what seems like a mountain of debt. When we're in the red, we can feel ashamed and isolated - and as a result we may be tempted to hide our situation from friends and loved ones.

A new survey has found that 13% of Brits are hiding their debts from their partner.

The survey, conducted by the Debt Advisory Centre, found that the equivalent of 5.4m Britons are hiding debts from their significant other.

Just under half (46%) of those with secret debts owe more than £2,500 while a quarter have debts that exceed £5,000.

Londoners in relationships were the most likely to keep their debts hidden. A quarter of Londoners taking part in the survey owe money to friends and family, or have credit card debts, personal loans or payday loans.

People aged 25- 34 were the most likely to hide their debts: 25% conceal their debt. Just 6.7% of respondents aged over 55 admit to doing the same.

'When clients speak to one of our debt advisors we can often by the first people they’ve told about their debt problem,' says Ian Williams, a spokesman for Debt Advisory Centre. 'A key concern for clients is whether people will find out they are on a debt solution – and in many cases there’s no need for anybody else to know.'

When you're in a committed relationship, it's important that you're open and honest with your partner. If you're struggling with debts, there's no need to face it alone. Confiding in your partner can help you emotionally, and he or she may be able to offer solutions to your problems.

Visit our money section for advice on how to deal with cash as a couple.

 

Image sourced from apa.org

  This was of help to 0% of people  

Comments

The Listening Room

What is this?

The Listening Room is now closed until further notice. Please post your query on the Forum for peer to peer support.