Brits not facing up to debts issues, says expert

Date: 6th April 2010

Britons are not seeking help with their debt issues and continue to suffer in silence, according insolvency trade body R3.

Recently-published data from the firm has revealed that 19 per cent of respondents cannot face opening their bills, while 21 per cent do not know where to turn for help.

The study also showed that 30 per cent of those in debt have not told the people closest to them.

In order to reduce the number of people facing difficulties, 90 per cent of those asked, told R3 that money management should be taught in schools.

R3 president Peter Sargent said: "Even after a long recession people are still terrified to 'own up' to debt problems. Yet this ultimately makes the issue worse.

"I have seen many cases of people coming into my office with unopened bills. We need to break this cycle of fear. Even people who do seek advice usually delay six months in doing so."