Homeowners may open up about repossession fears

Tue, 27 Sep 2011

Homeowners in the UK may be more willing to open up about their repossession fears than they were prior to the recession .

This is because new findings from the Consumer Credit Counselling Service (CCCS) have shown a significant drop in the number of people who are hiding their debt problems from their partners.

According to the group, the amount of individuals contacting the charity with monetary issues who have not informed their spouse of the situation fell by more than 3,000 in the last three years.

Delroy Corinaldi, external affairs director at CCCS - which has been in existence since 1993 - said: "Part of the reason for this new trend is that people think about very differently about credit and debt than they did before the credit crunch and economic downturn."

The industry figure added consumers are becoming more aware about the difficulties debt can bring - which may see more people speaking out over any repossession reservations they may harbour.

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