Car loans customers hiding bad debt?

Mar 2 2009

Bad Car Credit may be among the financial secrets British couples keep from one another, as research highlights that partners have £30 billion of debt hidden away.

Drivers still dealing with bad car credit or unpaid Car Loans could be just some of the Britons who avoid telling their partner about their debt, as CreditExpert has found that almost a fifth of people keep financial secrets from their spouse.

The main reasons for consumers failing to disclose their finances to their partner were found to be embarrassment and shame, while 18 per cent of survey respondents said that they simply do not want their loved one to know about their financial situation.

"Couples should be honest about money, particularly if you are already financially linked and if you plan to have joint accounts in the future," said Darryl Bowman, director of CreditExpert.co.uk.

Despite the findings, earlier research by the firm highlighted that Britons are now more willing to talk about their personal finances than they were a year ago.

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