Brits run up £5bn Christmas debts
BRITS racked up £5BN of debt over Christmas with one in 10 people running up bills of more than £750 to pay for the festive season.
And one in six people even admitted incurring late fees at Christmas for failing to make payments of debt on time.
More than a third find current debt collection strategies – such as phone calls and threatening letters – “very distressing” and 16 per cent said they have avoided phone calls chasing payments.
The poll of 2,000 Brits by digital banking software firm Intelligent Environments revealed found that more than one in eight people ran into debts of MORE than £750 to fund Christmas.
The firm’s MD David Webber said: “It’s clear Christmas is a financially challenging time for many people and their families.”