MANCHESTER, England, Aug. 5 /PRNewswire/ -- Debt advice specialists from MoneySolve have called for more of us to talk more openly about our debt problems! The company, which specialises in helping people in the UK to get out of debt, believes this will encourage more people to get help, commenting that:
"We're not saying everyone should stand on the street and shout about their finances. But there is still a rather old fashioned stigma around debt and, in particular, bankruptcy. This in turn makes people feel embarrassed about their financial problems. We then find that some people are reluctant, through shame or embarrassment, to seek help and even lie about the extent of their money worries to loved ones. This can be very isolating and distressing for the individual concerned and could have dire financial and personal consequences"
A survey carried out in 2009 by Sainsbury's Finance seems to confirm that people hide their debts from those closest to them, revealing that 18.5% of those questioned admitted to hiding some form of debt from a spouse or partner. MoneySolve's debt experts advise that this can actually worsen their financial situation.
Ignoring a debt problem or trying to hide its very existence can actually worsen the situation. MoneySolve encourages more openness when discussing this topic and other financial matters in general , stating "Perhaps we can remove the taboo element of debt and make those struggling with their finances feel more comfortable in seeking assistance and hopefully feel supported in their efforts to resolve their problems."
If you are seeking advice on your personal debts, contact MoneySolve on 0800 040 7046.
SOURCE MoneySolve
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