12.2 million `hiding debt`
19 November 2009
Almost one quarter of UK adults - 24%, or 12.2 million people - are hiding some form of debt from their partner, friends or family, according to insurer Axa.
At an average of £4,096.32 per person, there is potentially £50.1bn worth of `hidden debt` in the UK, says the insurance firm.
The research found that those aged 19-30 are most likely to lie about the state of their finances (44%) and have the most hidden debt (26%).
A debt expert at Think Money said: "A lot of people feel embarrassed about their debt problems, but it`s very important that borrowers tackle these issues head on. Hiding the problem will only make things worse, as the debt can grow and become even more of a problem.
"An expert debt adviser can help struggling borrowers find the best way of clearing their debts."
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Tags: debt, struggling with debt
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