Monday 3rd December, 2007 

If you fail to use your credit card sensibly this Christmas you may be faced with debt problems, claims price comparison website.

Samantha Owens, Moneyfacts, explained that the lack of good debt management and the ease in which consumers can spend using credit card cash withdrawals will create debt problems over Christmas. Mrs Owens cautions against using this form of credit without considering the financial repercussions after the festive period.

Moneyfacts recently reported on the impact if the credit crunch on credit cards. The survey showed that 69 credit card providers increased cash withdrawal fees and 25 credit card providers have increased higher cash withdrawal rates.

Debtwatchdog believes that debt management should be at the forefront of people's thoughts when considering how to fund their spending. Poor debt management leads to using their credit card for cash withdrawals rather than cash from their current account accounts. Good debt management entails using cash and proper budgeting.

Using Debtwatchdog will enable you to take positive action through good debt management. Help can be either obtained through submitting your Statements of Affairs to be reviewed by debt forum members.