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.
We are regulated by both DEMSA and DRF and we adhere to their codes and standards.
Call us today on 0800 0851 825 to speak with one of our advisors. If you’re calling from a mobile you can reach us on 0161 868 2500.
Alternatively use the contact form at the top of the page and we’ll call you.