Brits turn to pals over financial troubles

Posted 2008-05-22

Brits are increasingly discussing their financial woes with their friends, it has emerged.

Research conducted by IVA.co.uk reveals that 27 per cent of people are now happy to discuss their loans and credit card debt with their pals.

Andy Davie, spokesperson for IVA.co.uk, said: "The stigma associated with debt is changing.

"As more and more Britons struggle with their finances, its becoming acceptable to say I have a problem with debt."

Mr Davie added that many people have taken to being open about their finances in an attempt to garner information about possible solutions to their troubles.

He recommends that people concerned about the amount they owe on credit cards or loans should talk to a number of different organisations to work out the best solution.

The survey also highlighted that Londoners are the most likely to open up about their financial anxiety with 32 per cent turning to their friends, compared to 29 per cent in the north and 18 per cent in the Midlands.

Meanwhile, it was recently reported that brides and grooms are increasingly using credit cards and loans to fund their nuptials, according to Fool.co.uk research.

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