Brits turn to friends over debt woes

Friday, 23 May 2008 12:00

Britons are becoming more open about their debts with a quarter discussing the amount they owe.

A poll by advice forum IVA.co.uk reveals 27 per cent now admit they talk to their friends and family about debt problems and financial concerns.

Across the country Londoners were most likely to discuss financial anxiety while Midlanders were most stoical.

Some 32 per cent of Londoners revealed they are turning to friends and relatives to discuss their debt troubles - compared with 29 per cent of those in the north and 18 per cent in the Midlands.

Andy Davie, spokesperson for IVA.co.uk, said: "The stigma associated with debt is changing.

"As more and more Britons struggle with their finances, it's becoming acceptable to say 'I have a problem with debt'.

"Many people are investigating the possible solutions open to them but rely heavily on the advice that they receive. I would urge anyone looking for reliable information to talk to at least three different organisations."

With the credit crunch making borrowing tougher and rising energy and food prices hitting hard, IVA.co.uk reports a steep rise in enquiries - with the sites number of posts jumping from 10,000 to 100,000 in the last year.

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