Press Release

FINANCIAL INFIDELITY COULD BE THE END TO A FINE ROMANCE

Equifax warns against keeping debts secret from loved ones - as new survey reveals that more than 1 in 5 hide spending from partners

www.equifax.co.uk

London, February 11th 2009 - London, Leading instant online credit information provider, Equifax, is warning against hiding debts from partners as Valentine's day approaches. In a survey* conducted last year amongst Equifax customers, 22% of respondents admitted to occasionally telling a white lie about how much they had spent or to hiding spending from their partner.

Equifax External Affairs Director, Neil Munroe, is warning that whilst the reasons for hiding small debts might be innocent, the consequences could be serious if the size of the spending escalates. And as the risk of loss of income or redundancy increases it is absolutely vital not to hide spending from partners.

"Mounting debts can have a far-reaching impact on partners and families as well as the individual. And, unfortunately, there are more and more stories of people hiding debts from loved ones, highlighting the heartache that comes with these costly secrets. Hiding spending and debt is a stressful experience. Not only does the individual have the anxiety of trying to keep up with payments, but they also have to consider the effect the debt is having on their financial status. And if they share any joint financial commitments with another person it will impact on them too, putting the relationship under considerable emotional and financial strain."

FACING UP TO DEBT TOP TIPS

Own up to the debt
If you are struggling to make payments, speak to the lenders in question about agreeing a more realistic monthly repayment
Explain the situation to those close to you so they can offer support, especially if you share financial commitments with them
Do not approach a 'credit repair' agency offering to remove late payments, they won't be able to do this
Seek free advice from organisations such as the CCCS - 0800 138 1111 (www.cccs.co.uk), National Debtline - 0808 808 4000 (www.nationaldebtline.co.uk) or Citizens Advice Bureau (CAB) - www.citizensadvice.org.uk
Apply for a copy of your credit file from www.equifax.co.uk

Equifax advises consumers to stay on top of all their credit agreements by getting a copy of their Equifax Credit Report. To make this as easy as possible, Equifax has launched a new service which gives consumers access to their Equifax Credit Report for 30 days for free. The new Equifax Credit Report, with the facility to access credit information for the first 30 days free, is accessible simply by logging onto www.equifax.co.uk. Designed to help individuals understand their credit file and see what lenders see to assess new credit applications, the Equifax Credit Report also includes expert tips and advice to help consumers take the right steps to manage their finances and navigate through life's challenges.

If the customer does not cancel before the end of the 30 Day Free Trial, the service will continue at £6.99 per month, giving them unlimited online access to their credit information and weekly alerts on any changes to their credit file. It also includes an online dispute facility to help them correct any errors on their credit file simply and quickly.

ENDS

*Survey conducted June 2008 amongst 984 Equifax customers

For further press information please contact: Elinor Puzey, Louise Fowler, Cecile Stearn or Wendy Harrison at HSL on 020 8977 9132 / Fax: 020 8977 5200 or Email: elinor@harrisonsadler.com