Results of a recent poll, carried out by OnePoll for the UK Post Office, have shown that almost a third of people (31%) hide the true extent of their personal debt from other family members. In total the poll reveals a staggering £55bn, relating to hidden debt.
Hidden Personal Debt
The survey figures show that men are more likely to hide personal debts from their partners with one in six women (16%) and in excess of a quarter (28%) of men who do not tell their partners how much they owe.
How Does Hidden Debt Accumulate?
In a scenario described by Chris Tapp, from the debt advice charity Credit Action, as unfair but not uncommon it is entirely possible that one partner can be sent one or more pre-authorised credit cards without the other partner’s knowledge; particularly if they are joint owner of a property. Of course hidden debts accumulate in other ways too but it seems that the over use of credit cards and store cards is common.