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This article is for information only. It does not constitute advice. Chase Saunders Ltd does not provide services for savings, investments, mortgages or insurance. You should seek advice on these areas from a qualified financial advisor.
Consumers Keeping Quiet Over Debts
Numerous people in the UK are not revealing the full extent of their debts to their partners, according to new research. The latest survey from The Debt Counsellors has found that more than 22 per cent of married respondents had not told their spouses about their debts, with 27 per cent keeping them secret from their partner. It added that about a fifth (21 per cent) said they did not intend to tell anyone about their debt problems, with 24 per cent saying they had not told anyone at all about their indebtedness.
John Porter, senior counsellor at The Debt Counsellors, commented: "Nobody should feel ashamed about their debts as so many people are in the same boat. At the very least, people suffering with debt problems should talk to a professional debt counsellor to find out about the various
debt solutions that are available."
Individual Voluntary Arrangements might be sought by people seeking to tackle their debts as an alternative to bankruptcy. These do not carry the same publicity or stigma as does declaring oneself bankrupt and also has lower administration costs.
Created on 05/03/2007 16:18:37
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