A third of those with debt problems ‘have not informed their partners’

Around 30 per cent of those with personal insolvency troubles have not told those closest to them about their difficulties, new research has shown.

Around 30 per cent of those with personal insolvency troubles have not told those closest to them about their difficulties, new research has shown.

Data released by R3 has revealed that the stigma attached to such worries has not waned in recent times.

It found that 19 per cent of individuals do not want to open their bills, while 21 per cent said that they do not know where to turn for help.

Peter Sargent, president of the company, said that the figures show the “damming spiral” of bankruptcy.

He commented: “Even after a long recession people are still terrified to own up to debt problems.”

Nearly 90 per cent of those in monetary hardship believe lessons in money-management should be taught in schools, while 44 per cent assumed that they have to pay for advice on the matter.

Last month, a survey carried out by Scottish Widows found that 66 per cent of the population get stressed out about financial issues.

By Joe Shervin

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