People should be open with their partner and families if they are struggling with personal loan repayments and other debt problems, one industry body believes.
A spokesperson for the Consumer Credit Counselling Service (CCCS) said: "It's a big element of people in debt - there are lots of people who have serious debt problems who haven't told their partners about their situation."
He added that in doing so people would relieve some of the stress involved in dealing with debt and personal loan problems.
But, he said, it is vital that people make sure they discuss financial matters with an independent expert - both before they took on debt and if they encountered problems further down the line.
A recent study by Abbey Loans found that 1.35 million have taken out a personal loan without telling their partner or family.
It estimated that the total value of these personal loans was £7.7 billion.
Be open about personal loan debt
Be open about personal loan debt
Wed, 06 Feb 2008
Recommended links
Personal loan - apply online, compare providersPersonal loan quote form
Compare personal loan deals
Personal loan guide index page
Today's secured loan deals
Debt guide
Repaying debts
Dealing with creditors
Debt consolidation loans
Personal Debt In The UK Continues To Grow
Nations Consumer Debt Overtakes GDP For First Time
| Personal loans news |
|---|
| BBA Reveals Home Loan Dip - Mon, 26 Jul 2010 |
| Government to Conduct Personal Loan Review - Thu, 22 Jul 2010 |
| Positive Home Loan Trend Continues in May - Fri, 16 Jul 2010 |
| More News |
Simplyhealth Dental Plan
Affordable cover from only £7.50 per month. Join now and get first month FREE
Amex Cash Back
Credit Card
Credit Card
Get 5% cash back on purchases with Amex
Income Protection Insurance
Get an instant quote with the award winning company
Paying Too Much?
7 out of 10 people are paying too much for their mortgage. To find out if you're one of them click here or fill out a FREE no obligation enquiry form