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Dramatic soap storyline is reality for many says Equifax

By CreditMan Monday, August 20, 2007

The latest storyline of Channel 4’s Hollyoaks sees Jessica Harris, played by Jennifer Biddall, continue to struggle with debt. The once spoilt student is considering getting more credit cards to get cash out on them and pay off the debt collectors. Although soap operas often choose far fetched story lines, Equifax, the instant online credit information provider, is warning that for many watching Hollyoaks, the horrors of debt is all too real.

Jessica was first introduced as a spoilt rich kid, who relied on her parents to cover her living expenses at university. When she found out her dad had been hiding a string of debts and declared himself bankrupt, things changed and she had to look after herself financially.

“Jessica’s storyline has developed into a vicious circle of debt, which will be familiar to many students and young people watching the show,” explains Neil Munroe, External Affairs Director for Equifax. “With the average graduate debt totalling around £12,363*, many students will be living the reality of Jessica’s story, without the glamour of a soap opera.

“Unmanageable debt can have a long lasting impact on an individual’s ability to get credit, not to mention the stress and anxiety. Anyone in Jessica’s situation should apply for a copy of their credit report to gain a clear picture of their financial situation and start taking control of their finances. When students leave university, a history of bad debt could come back to haunt them when they apply for a mortgage, loans or even jobs. The best way to deal with debt is to seek advice and bring it out in the open. Hiding debt is a sure way to heartache, as Hollyoaks is showing.”

For more information on debt and money management or to get a copy of your credit file visit