Peer pressure and bankruptcy linked

The number of people who find themselves on the edge of personal bankruptcy because they don't want their friends and relatives to learn of their poor financial situation is growing.

New research from a leading consumer review site has shown that over a third of people spend more money in social situations, just so they can fit in with another quarter saying they get their wallets out to avoid people knowing the truth about their finances.

A spokesperson for Credit Expert advised consumers to seek help and come clean about their problems before they reach the point of no return and have to consider procedures like personal bankruptcy.