13% of Britons Fail to Disclose Mountainous Debts to Their Partners, Reports Debt Line
BOURNEMOUTH, September 24, 2012 /PRNewswire/ --
Debt Line, the online debt management service, reveals how debtors can break free from debt using its services
13% of Britons in relationships choose to keep mountains of debts from their partners. According to a survey from the Co-Operative Bank the average individual has more than £17,000 in debt hidden from their partner. Women are further in the red than men; the average female owes £22,418, whist the average male owes £14,228. Collectively, across the UK, outstanding hidden debts total £41 billion.
The problem is particularly marked for younger generations where only 27% of couples between 25 and 34 have joint accounts, compared to 48% for 55 to 64 year olds.
The UK's debt problem is spiralling out of control. Personal debt in Britain is now almost as much as the UK produced as a whole in 2011. Britons owe £1,410 trillion; most of this is as secured mortgage lending, although £157 billion is the combined amount of unsecured consumer credit, lending which is far more concerning.
When debts reach such epic proportions, as the figures represented above for average male and female hidden debts, it's time to take action to bring spending under control and get rid of massive debts.
Debt Line offers online debt consolidation services tailored to the individual. Each month it helps around 20,000 people get back on track and deal with their debts. Its online debt management package includes a personalised debt management plan to help debtors get debt free as quickly and easily as possible. It aims to freeze all interest charges to expedite recovery and it will deal with hassling creditors on its customers' behalves. On top of all this, Debt Line sets up an affordable monthly payment package to cover all outstanding debts.
This is all done in confidence so debtors afraid to admit huge debts to their partners can seek help and support from Debt Line and get clear of debt on their own.
SOURCE Debt Line
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