Debt remains taboo

According to internet bank first direct, 53 per cent of adults are happy to talk about personal problems but only 22 per cent discuss debt worries.

Television psychologist Mo Shapiro said: “Some people feel that they are defined by their financial situation – it decides their social status.”

However, she urged consumers to take debt advice to help clear debt.

“Concerns can be managed positively once they are out in the open but the first step is admitting to the problem – then it’s possible to look for support and take action,” stated Ms Shapiro.

Chris Pilling, chief executive of first direct, reinforced this advice, urging customers to discuss problems with their bank to help obtain a debt solution before it is too late.

In addition to information at banks, there is independent and impartial advice on becoming debt free available to consumers with financial problems.