Christmas Debt Could Lead to High Demand For Debt Management Services
Debt charity Money Advice Trust last week warned that many families could face huge debt problems in January as they recover from a year of rising prices and living costs. January is traditionally a tricky month for many as they face their credit card statements and come to terms with just how much they have spent.
Figures released back in October of 2010 illustrated the severity of debt problems in the United Kingdom. The total amount owed by Britons was shown to be £.145 trillion with the average debt per household at £60,000. Minus the cost of mortgages this equates to £8,500.
One marketing group - TNS marketing issued figures suggesting that on average British citizens will spend around £1.2m less on gifts this year. Many debt management services are expecting January to be a busier month than ever before despite the fact that the average gift spend will be £40 lower than last year.
Leading debt charity National Debtline reported that in January 2010 a three-fold increase was reported for their services when compared with the same time last year.
Many people will be using debt management plan
services in January to provide debt-relief for their unsecured debts.