MoneySolve : Secret Debt Stats are 'No Surprise'

MANCHESTER, England, August 5, 2010 - Experts at debt management company, MoneySolve, say that figures
highlighted by research carried out by OnePoll for the Post Office are 'no
surprise.'

The statistics show that a third of us are hiding the full extent of our
financial woes a secret from the people closes to us. The average personal
debt in the UK, exclusive of mortgages, is GBP9,732.51 but many only admit to
owing half of their true debts when discussing them with friends or family!
Taking into account the amount of debt people lie about and the number of
people who do lie about it, the research calculates that this means the UK
has a 'secret personal debt' total of GBP55 billion!

Experts at MoneySolve remain unsurprised by this information, commenting
that; "We have known for a long time that debt is something of a taboo issue.
People just feel uncomfortable owning up to owing lots of money, which
explains why so many try to hide some or all of their debts from a partner or
from their family. The problem this creates is that these people may feel
that they can't actively seek the help they need for fear that those closest
to them will find out about the true extent of their debts."

The specialist advisors with MoneySolve, who help consumers to resolve
and/or consolidate debt, (www.moneysolve.co.uk/debt-consolidation)
believe that this in turn can worsen the issue, advising that; "Ignoring debt
is arguably the worst way to deal with it. Burying your head in the sand
won't make it go away. Free, professional and confidential advice is
available and finding out exactly what options are available to you is the
first step on the road to resolving your financial issues."

If you are seeking advice on your personal debts, contact MoneySolve on
0800-040-7046.

Contact Info: MoneySolve, Elizabeth Beesley, Astute House, Wilmslow Rd, Handforth, Cheshire SK9 3HP, +44(0)1625-544789