Love you to Debt?

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Bank balances can cause failed romances

Love may be in the air this Valentine’s Day but Payplan, one of the UK’s leading providers of FREE debt advice and debt management, reveals that many relationships suffer due to debt problems. Payplan’s research* shows:

  • Almost two in five couples whose relationship had broken down blamed debt as a significant factor.
  • For one in four couples, debts are the biggest cause of arguments
  • Two in five people have lied about how much they owe and almost one in five have lied to their partners about being in debt
  • Two in five people receive help from their partners in paying off their debts
  • If almost two out of five people found out just prior to their wedding that their intended was £30,000 or more in debt, they would not go ahead with the ceremony. 50% would have doubts about marrying someone so deeply in debt

John Fairhurst, Managing Director, Payplan said,

“One of the first questions we ask people is whether their partner is aware of their debt problems. 10% of our clients haven’t told their partners. Although people often hide the truth about their debts to avoid embarrassment, the strain this places on their relationship can be enormous.”

“But whether you choose to tell your loved-one or not, it is important that you recognise your debt problem and take sensible proactive steps to change your circumstances. It is not easy to make this realisation but one phone call to Payplan can be a great relief. Our highly trained advisers will carry out a full assessment of the person’s finances before negotiating with their creditors to reach an affordable, flexible, repayment solution and in many cases can convince creditors to freeze interest and charges.”

“The benefits of sorting out a debt problem are often much wider than the obvious financial ones.”

Payplan can help consumers come to an affordable flexible monthly repayment schedule with their lenders based on what they can afford after a realistic income and expenditure has been assessed. Their payments are re-evaluated regularly through Payplan’s customer care programme, so that any changes to their personal circumstances can be taken into account.

For an individual overview of their financial situation, consumers can access the Debt Calculator or phone the Payplan Helpline on 0800 917 7823.

* = Research was conducted via an online poll on the Payplan website. Figures are based on 900 respondents.

Payplan
John Fairhurst, Managing Director
01476 539200
john.fairhurst@payplan.com

Notes to Editors:

Payplan has a proven track record within the credit industry, having offered free debt solutions for over fifteen years. Its good reputation is reflected in the active referral of clients by organisations like National Debtline and Citizens Advice Bureaux.

Payplan is one of the country’s leading debt advice agencies; with over 10 years’ experience in helping people with their debt problems. It is recommended to the employees of companies such as Marks & Spencer, and by national organisations such as the Royal College of Nursing, Police Forces and Unison

Payplan will make a full assessment of a caller’s situation and recommend a course of action. It also provides free advice on bankruptcy, County Court Judgements, Joint and Several liability and other risks associated with debt.

Payplan advisers can be contacted on 0800 917 7823. Telephone lines are open 8am to 9pm Monday to Friday and 9am to 3pm on Saturdays. Case Officers can also arrange to call clients back at a convenient time and place. All information is treated in the strictest confidence.