Christmas debts

Nearly a third of people who took out debt to pay for last Christmas took up to seven months to clear what they owed, according to a survey by Nationwide Building Society.

More than a third (36%) said the festive season last year left them in the red, leaving them with an average debt of £426. The average time taken to clear this debt was two and a half months, although for nearly a third (32%) it took up to July – seven months.