For many, debt doesn’t just turn up one day following a big overspend or a turbulent event. It can be the result of months or even years of subtle accumulation.
What begins as a reliance on Buy Now Pay Later services, credit cards or subscriptions service can mount up in the background over time.
This ‘quiet debt’ may not be immediately obvious for some time but it can become a big problem if it’s not tackled.
Maxine McCreadie, a spokesperson at UK Debt Expert, described it as a slow leak.
“While your debt levels might feel manageable, if they slowly increase over time it can leave you vulnerable to a sudden financial shock or change in circumstances,” she said.
The good news is the slower nature of quiet…