People are increasingly willing to talk about their debt problems, a new survey by IVA.co.uk has revealed, with over a quarter of adults in the UK (27%) having talked about their money problems with friends and family. Interestingly, the numbers vary greatly in different parts of the country. Londoners are the most likely to talk to have discussed their debt troubles, with £2% having done so, whereas figures are lower in the North (29%) and even lower in the Midlands (18%).
That people are showing a greater willingness to talk about debt is a vital step in solving the UK’s debt problem. Perhaps, in a strange sense, the downturn in house prices and the heightened cost of living have made it more acceptable to talk about money troubles, as so many people are struggling to make ends meet. Personal debt has been in the news a lot over the past few months, which has helped to break down some of the old taboos; the media, the government and individual debtors are increasingly able to…
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