Does your partner have a debt problem?

Tom Wilson
20 August 2015
A fifth of people get married hiding debts from their partner, worth £3,200, according to a new survey. Embarrassment is the main reason people keep debts secret from their soon-to-be-spouses, cited by one-in-three people surveyed by the Debt Advisory Centre. Another 17% said they don’t feel comfortable discussing finances with their partner. On average, secret debts on credit cards, overdrafts and personal loans are worth £3,200, but one-in-five owe more than £5,000. Melanie Taylor, spokeswoman for Debt Advisory Centre, said: “Once plans turn to marriage, it’s essential that you understand each other’s financial position and that includes any debt that you bring into the marriage. “If you are worried about the amount that you owe, then seek professional advice together. Feeling worried about money is bound to seep into your relationship, so don’t struggle on your own.” Sara Davison, relationship expert, added: “Money problems put a lot of stress on relationships and if the information was withheld it can cause huge trust issues. Financial challenges can be overcome if dealt with properly. However, if you sweep them under the carpet the damage to your marriage may be irreparable.”

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