MoneySolve Encourages More Openness About Debt

By Moneysolve, PRNE
Sunday, March 14, 2010

MANCHESTER, England, March 15, 2010 - Debt management ( specialists at MoneySolve
have called for more openness around the topic of debt. The experts believe
that encouraging people to discuss the topic more openly, could lead to
individuals seeking help sooner, commenting that:

"We're not saying everyone should stand on the street and shout about
their finances. But there is still a rather old fashioned stigma around debt
and, in particular, bankruptcy. This in turn makes people feel embarrassed
about their financial problems. We then find that some people are reluctant,
through shame or embarrassment, to seek help and even lie about the extent of
their money worries to loved ones. This can be very isolating and distressing
for the individual concerned and could have dire financial and personal

And indeed it seems that many people do hide debts from their partners. A
survey carried out in 2009 by Sainsbury's Finance found that 18.5% of those
questioned admitted to hiding some form of debt from a spouse or partner.
MoneySolve's debt experts advise that this can actually worsen their
financial situation.

Ignoring a debt problem or indeed deliberately concealing its existence
just makes the situation worse. MoneySolve encourages more openness and
discussion about debts and finance in general , stating "Perhaps we can
remove the taboo element of debt and make those struggling with their
finances feel more comfortable in seeking assistance and hopefully feel
supported in their efforts to resolve their problems."

For more information, please contact: MoneySolve, Elizabeth Beesley, Astute House, Wilmslow Rd, Handforth, Cheshire SK9 3HP, +44(0)1625-544789.

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