More than a fifth of borrowers `hiding debts`
31% of people also admit to hiding the true extent of their debt from other family members.
The Post Office found that the average person has £9,731.51 worth of debt, but on average people will only admit to owing half that amount.
An expert at debt management company Gregory Pennington said: "Money can often be a sensitive issue - especially when it comes to debt - but another particularly important issue is whether people are trying to ignore it themselves.
"Delaying getting debt help will only give it time to grow, making the problem potentially much worse. It`s very important that anyone struggling with debt gets help as soon as the problem emerges."
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Gregory Pennington offer debt advice and debt management plans, as well as a range of other debt solutions. If you are worried about debt, contact one of our expert debt advisers now.
- 0800 161 3516
- 0161 605 4824