A growing number of borrowers are in debt denial, an industry expert has suggested.

According to Michael Shirley from Debtmatters, those who fail to face the fact that they struggle making repayments on Personal Loans and other forms of borrowing begin to hide bills from their loved ones and avoid getting in touch with lenders.

He told the Sun: "While personal debt problems are evermore commonplace, admitting to having a problem and seeking help is often still the biggest hurdle."

However, he claimed that not admitting to financial difficulties can exacerbate consumers’ problems.

Mr Shirley added that other signs of debt denial include panic attacks, depression and anxiety.

Meanwhile, Debtmatters was reported to receive more than 11,000 calls every month from people with serious debt management difficulties.

Research by Credit Action indicates Britons borrow more than £360 million ever day.

The financial charity also revealed that Britain accounts for about 33 per cent of Europe’s total consumer debt.

Interfinancial providing you with breaking debt management news.