Third of adults ‘put Christmas on credit’

More than a third of adults are putting Christmas on credit, according to a charity.

Some 37 per cent are putting Christmas costs on credit, according to new research from National Debtline, run by charity the Money Advice Trust (MAT).

The findings suggest more people are turning to credit this year to fund Christmas, with 33 per cent having said they were putting Christmas on credit when similar research was carried out last year.

They were released as a separate report, from Stepchange Debt Charity, said that more than two million people in the UK are stuck in a cycle of persistent overdraft debt.

The report, based on a survey of Stepchange’s clients and analysis of Financial Conduct Authority (FCA) data, found that 2.1 million people in the UK used their overdraft every month in 2016.

Stepchange said that while overdrafts are meant to be short-term, they can trap people in expensive and long-term cycles of persistent debt.

Meanwhile, the MAT’S report found that while 37 per cent of people are putting Christmas presents on credit, 24 per cent are putting Christmas food on credit.