Research by insolvency trade body R3 has found that 30% of those struggling in debt without help are keeping it to themselves, rather than sharing their problems with the people who are closest to them.

On top of this, a further 19% can’t face opening any bills they receive, while 21% said they didn’t know where to go to get debt help. Almost half (44%) admitted they thought they had to pay for debt advice.

Nearly 90% of those who were finding their debts difficult to manage thought that money management lessons should be taught in schools.

An IVA expert for the IVA Forum said: “Being in debt can be a stressful experience, but it’s important that anyone struggling with their debts doesn’t keep it to themselves.

“We would advise anyone in this situation to seek professional debt advice before their situation can get any worse.”