Do you keep your debt a secret?

garycarter79

Do those of you in significant debt tell others or keep it secret? Only my partner and her father know about our 25K debts which were over 40K at one point.


We are bringing the debts down at a good rate but I hate the fact that I feel like I am hiding a dirty little secret. None of my friends, colleagues or other family members have any idea that I have such a high debt. I would be mortified if the knew I owed such a terrible amount as 25K


It is common to keep it secret??

MrWillyWonka

Put it this way, how do you know if your friends and colleagues aren't in a mountain of debt too?

The dirty little secret is getting into debt, the debt free journey is a positive secret.

bambos

I think that quite a lot of people do keep it a secret but that's purely my opinion. I was talking to my friend about OUR debt last year and how I felt it was ruling our life at that time & she told me that her and her husband had £54,000 on store cards, finance, credit cards and overdrafts. I literally had no idea that they had any debt at all.

Maybe it stems historically from the British stiff upper lip type belief where such matters were not discussed.

January2015

Yes I definitely keep it a secret

ratrace

Its not really anybody's business to be honest. nobody going to pay it off except you

marleyboy

I keep my finances a secret from my friends in so much as its really none of their business. I dont know whether or not my friends are in debt and care less.

Luckily for me, I am debt free

Lips_and_Lashes

Although I don't have a 'significant' amount of debt (it is for me considering my current circumstances), my immediate family know about my debt, including my partner and a very close friend. All are supportive a part from one sibling.

My parents however, are in a significant amount of debt which they have always kept a secret. I should not even know and they would be horrified if they found out I did. They are extremely private about their finances and always have been.

Your debt free journey should be a proud one but I can definitely see why a lot of people want to keep it to themselves. It is definitely a taboo subject.

twiggy86

I don't keep it a secret from my friends as then they are more understanding when I say no to social events - I don't feel the need to say yes to keep up appearances, or if I do go I may drink water/not eat etc.

My parents don't know exact figures as my mum is a really worrier so I don't want them to know for that reason - they probably think its £1k - £2k.

wigannwuk

its a pride thing...its alos the amount of time ive been in debt...i scratch my head thinking how ive let it go on for so long.
i dont tell anyone anything though i think people can read between the lines..i.e social life and holidays etc

Muhren

I didn't want to tell anyone but had to tell my parents and they are the ones who have taken over my debt and I am playing them back rather than the banks.

A lot of people know that I am in debt due to my gambling but don't know the extend of it. I have told people when I have been drunk how much I have thrown down the drain at the bookies but that is not how much debt I am so they may think it is worse than it actually is.

quantic

This is a subject I've always been quite intrigued by, you know people for 20+ years and often have no idea about any of their financial issues. Weird considering the other (I would argue) more intimate and private things that friends and people share.