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Scots 'most likely' to keep debts a secret

Scots 'most likely' to keep debts a secret

- Thursday, 25 June 2009

People in Scotland are more likely than their southern counterparts to keep their debts a secret from their partners, new figures have revealed.

The study, conducted by the Guardian Financial Group, indicated that the average Scot owes £6,598 on credit cards and loans - and some 64 per cent of people in the country do not have a plan in place to pay this sum back.

Furthermore, the figures indicated that 79 per cent have kept their financial troubles to themselves rather than confiding in their partner.

Guardian Financial Group chief executive office Gary Forrest asserted that half of the people struggling with debts are "actively worried" about their finances and many are losing sleep because of this.

According to UK debt charity Credit Action, an increasing number of people may need to seek debt management solutions by the end of the year. It suggested that some 331 people per day become insolvent or enter into an individual voluntary arrangement.
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