12.2 million people – almost one quarter (24%) of adults in the UK – are hiding some form of debt from their partner, friends or family according to research.

With an average hidden debt of £4096.32, this means that there is potentially £50.1 billion pounds worth of ‘hidden debt’ in the UK.

The state of their finances is a key area that people lie about, only topped by how many previous partners they’ve had and how much they spent on an item of shopping.

The highest levels of hidden debt are amongst those aged 36-40 and 46-50, with both groups having close to £6,000 average debt.

Alison Green, spokesperson from the group says; "There are over 12 million people in the UK today hiding their debt and financial concerns from their partners and family. Be that through embarrassment, fear or in some cases ignorance.

“The important thing is for people to take control of their finances and get the help and the support they need. The first step of which is taking stock of their debt and sharing this with the people in their lives.”

The firms 'My Budget Day' encourages anyone who is putting their head in the sand about debt to change this, start taking an active role and address their personal finances.