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More than 4 million fear they`ll be made redundant Consumers took on more mortgage debt in July Debts called in by parents Teenagers `scared of debt` Rising household costs could pressure people in debt Pensions debt may impact workers` retirement funds Welsh young adults `at highest risk of debt problems` Over 50s can`t afford to enjoy retirement because of debts Budget: tackling the nation`s debt Short-term debt: `no need for price control` The cost of clearing debt Education debt Tackling the national debt Number of mortgage deals on offer exceeds 3,000 Almost 5 million take on debt to pay household bills OECD: household debt more than 120% of disposable income Petrol price falls help people in debt Amount of mortgage debt taken on at lowest level in ten years Northern Ireland sees significant IVA rise Overdraft debt `becoming more expensive`

Hidden debt - 1 in 3 keep it quiet

22/04/2010

The average personal debt in the UK might be nearly £10,000, but plenty of people are hiding their debt problems from their family, the Guardian reports.

Research for the Post Office has indicated that the average personal debt - if you don`t count mortgage debt - is actually £9,731.51, but one person in three hasn`t revealed the full extent of their financial problems to their family.

Around 20% of consumers are actually hiding their debt from their partner, and more than three quarters (78%) of the people with hidden debt have never admitted how much they`re hiding - and most (60%) of the ones who have done so were `caught out` rather than admitting it voluntarily.

A quarter of the people whose hidden debt was found out apparently still tried to keep denying everything, even though 26% were aware that their money problems just got worse when they tried to hide their debts.

The report also `exposes the serious emotional and physical consequences of covering up that debt, ranging from problems at work, sleepless nights and anxiety, to alcohol abuse`.

"The recession has put a massive strain on many families and people may be, for the first time, experiencing levels of debt that they cannot control," said Doug Strachan, director of financial services at the Post Office.

"The most important thing to remember is that if you do need to borrow money, make sure you are responsible about it and set out a clear repayment plan. Managing the debt effectively can mean there is no need to experience the terrible emotional and physical symptoms hiding debt can result in."

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More than 4 million fear they`ll be made redundant 16/12/2010 - According to R3`s quarterly personal debt tracker, more than 4 Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according