1 in 6 Brits in a relationship owe money that their partner doesn’t know about

It’s often said that the best relationships are built on trust, but it seems that some may not be getting off to the best start. According to new research, 1 in 6 (16%) adults in a relationship in the UK admit to having secret debts that they haven’t disclosed to their partner. That’s the equivalent to more than 8 million people across the UK.

A survey conducted on behalf of debt advice and solutions provider Debt Advisory Centre (DAC) found that just over a half (51%) of those who have debts or owe money that they haven’t told their partner about say that they owe more than £1,000. Some people owe less substantial amounts, as one in 10 (10%) have debts of less than £100. As this also includes any money they may owe to friends or family, it may not be as much of a problem. However, if it’s borrowing from a high cost credit provider – such as a payday loan – even a less substantial loan may quickly accrue interest and late payment charges if it isn’t managed properly.

Worryingly, one in 12 of those with secret debt (8%) admitted to owing more than £10,000 that they haven’t told their partner about and a further one in nine (11%) owe between £5,001 and £10,000.

Ian Williams, spokesman for DAC, says: “Having debt problems is an extremely stressful and isolating experience. Trying to deal with the situation on your own by keeping it secret from your partner will only compound the stress.

“Many people are embarrassed and ashamed to admit their money problems to their partner – but when they do, not only is a weight lifted from their shoulders, but it is easier to start to tackle the problem together.”