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Consumers took on more mortgage debt in July Debts called in by parents Teenagers `scared of debt` Rising household costs could pressure people in debt Pensions debt may impact workers` retirement funds Welsh young adults `at highest risk of debt problems` Over 50s can`t afford to enjoy retirement because of debts Budget: tackling the nation`s debt Short-term debt: `no need for price control` The cost of clearing debt Education debt Tackling the national debt Number of mortgage deals on offer exceeds 3,000 Almost 5 million take on debt to pay household bills OECD: household debt more than 120% of disposable income Petrol price falls help people in debt Amount of mortgage debt taken on at lowest level in ten years Northern Ireland sees significant IVA rise Overdraft debt `becoming more expensive` School focuses on "curing Ireland`s debt disease"

Couples `could be hiding debt in secret accounts`

01/05/2007

Millions of Britons have a current account they keep hidden from their partner - known as a CASHFLO - new research reveals.

Abbey Current Accounts discovered that 7.5 million people in the UK admit to having a secret account, which could be concealing debt or other financial problems.

Those between the ages of 25 and 34 are most likely to have a CASHFLO, according to the bank`s figures.

Paula Wells, a relationship counsellor for Relate, told the Scotsman that a person may conceal debt in a CASHFLO if they were afraid it would create conflict.

"But in many ways it`s the secrecy that will do the real damage - the fact that you have not been having an honest conversation about your financial situation, that you have not been yourself fully," she cautioned.

In other money management news, the total personal debt at the end of February 2007 was £1.31 billion, according to Credit Action.

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