Brits run up £5bn Christ­mas debts

Midweek Sport - - NEWS -

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.”

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