Experts said Michael Love was one of a growing number of people to suffer from “debt denial”, as he failed to face up to the problem for many years.Sufferers will concoct elaborate ways to disguise the fact they have a serious debt, and they will display behaviour changes, as well as suffering from physical symptoms such as panic attacks, severe anxiety, depression and sleeplessness.

Michael Shirley of DebtMatters, says trying to keep debts secret was a classic case of denial and put added pressure on partners.

“The first instinct for many people in relationships is to assume that their partner is having an affair when they become secretive,” he says.

“As debt spirals out of control, so does people’s behaviour, with many suffering from what can only be diagnosed as acute denial that there is something wrong.” He adds: “Those in debt denial also tend to try and distance themselves from the reality of their normal life.

“Even when they themselves have admitted they have a problem, they still may not have discussed their financial situation with their partners.”

Problems

But everyone can avoid getting in to serious debt by following the advice given by Jo Kynaston, head of saving sales and marketing at Birmingham Midshires.

Here are her top 10 tips to avoiding financial problems:

1. Take stock by making a detailed list of income and outgoings, or keep a spending diary
2. Review your budget on a regular basis as circumstances can change
3. Try and spot areas to make savings, such as taking lunch to work rather than buying out
4. Don’t bury your head in the sand. Call creditors to discuss a realistic payment plan if you are getting into problems
5. If you find you’re using credit cards to pay everyday bills and expenses, seek advice
6. Prepare for a financial emergency like car repairs, by putting savings aside
7. Get appropriate insurance to cover illness or redundancy
8. Plan ahead, such as for children going to university
9. Save the money to pay for goods before buying them and put money away for retirement
10. Seek qualified financial advice whenever appropriate – The Citizens Advice Bureau offers more information