Friday 16th November, 2007 

For those who are planning to have a plastic rather a fantastic Christmas please bear in mind the results of a recent study.

Insurance company, Cornhill Direct has released figures detailing the effect of financial festive fun. The study found that 33% of people get into debt to fund Christmas. A fifth of those are still in debt by March, with 10% yet to recover from the same debt problems a year later.

Debtwatchdog cautions those who are living the Visa loca this Christmas not to over-indulge. We urge people to take control of their finances to avoid a festive financial hangover by using our Statement of Affairs to control your spending. In sticking to a budget over the Christmas period some of the problems associated with financial excess can be avoided.

Visit our debt forum where you can find informal advice on over-spending, debt consolidation, debt management and how to budget your way out of debt.