New Year Debt Advice

Writing by Paul on Wednesday 2 January 2008

Get Debt Advice

With a record 4.4 million British Internet shoppers taking advantage of the Christmas sales online on Christmas Day itself, there are fears that the New Year will bring debt misery to many when credit card bills are delivered. Payplan urge those with debt problems to seek free debt advice sooner rather than later.

IVAs and House Repossession

British consumers will have spent £3 billion more than in December 2006 on credit cards and debit cards, according to the Association of Payment Clearing Services (APACS), which will fuel existing concerns about a rise in personal insolvency, IVAs and home repossessions (the latter are expected to rise by 50% according to the Royal Institute of Chartered Surveyors) in 2008.

Fear Over Credit Card Bills

Higher interest rates and the results of the credit crunch have begun to hit families, home-owners and borrowers and many are now struggling to make their financial budgets work.

Unfortunately, many of those who are struggling financially will not seek debt advice at the point when it will benefit them the most.

The Financial Services Authority (FSA) have found 48 per cent of those surveyed prefer to diet or book a holiday rather than get debt advice in January whilst 24 per cent of 16 to 44 year-olds surveyed said they are scared about their next bills arriving.

Free Debt Advice Online

If you are worried about paying your debts and bills, call Payplan for free debt advice on freephone 0800 917 7823 or submit your debt problem here for online debt advice.

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