Let's Talk About Debt, Baby

By Credit Confidential, PRNE
Wednesday, June 8, 2011

LONDON, June 9, 2011 -

- Brits Demand Partners Have Clean Bill of Wealth

Brits are demanding financial fidelity over marital monogamy, according
to new research by Credit Confidential (https://www.creditconfidential.com/).

Over eight in 10 claim honesty about levels of debt is of most importance
in a relationship. In fact cash candour is more important than honesty about
infidelity (77 per cent), previous brushes with the law (71 per cent),
personal income (67 per cent) and sexual history (61 per cent).

However, despite the desire for financial honesty from others, Brits are
still reluctant to open up about their own personal finances. A quarter (24
per cent) admit they would be likely to hide a debt problem from a loved one,
with women more likely to be economical with the truth than men.

This suspicion and fear of the financial histories of significant others,
is borne out in telling findings, with a quarter (24 per cent) claiming they
would ask a partner to perform a credit check (
https://www.creditconfidential.com/credit-rating) before entering a financial
arrangement with them, such as a joint bank account.

Paul Lewis, Vice President of Credit Confidential, said:

"These surprising findings show how we as a nation are beginning to value
the importance of a clean bill of wealth. Debt and personal credit histories
are often taboo relationship topics, yet without such open conversations our
financial footprints can follow us through life.

"Simply by being aware of your credit report (
https://www.creditconfidential.com/credit-report) and credit rating,
consumers can ensure they get the best deals around, as well as reassure
loved ones."

Today's findings are supported by other recent studies which show that
one in three British consumers are keeping the full scale of their financial
debt from their family, while a quarter also admit to arguing more because of
the recession.

Heather Wilson, +44(0)20-3451-9419, heather.wilson at bbpr.com

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