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ARE YOU STILL PAYING OFF YOUR CHRISTMAS DEBTS?

Published on:January 23, 2014Author:The Debt Advisor

According to research from the Trades Union Congress, it will take until June until the average family clears debts they took out to pay for Christmas.

The research shows that a typical family will add £685 to their total debts over Christmas. This will take the average family 24 weeks to pay off.

Separate research from YouGov released last year suggested that overall Christmas will have cost £822 per household last year.

If you’ve started the New Year struggling to pay off debts from Christmas, make sure you read our ‘Get Money Smart’ blog which has lots of useful information on how you can start the New Year and get your finances in order.

If you are struggling with your debts, there are solutions that are available to you.

The Debt Advisor can advise on all kinds of debt solutions such as Debt Management Plans (DMP), Individual Voluntary Arrangements (IVA) andBankruptcy.

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