UK Money News
18th February 2008
Xmas sprees leave borrowers with debt concerns
The Christmas spending spree has left Britons facing ever increasing concerns over their ability to keep up their credit card repayments, a study suggests.
According to figures from MoneyExpert.com the number of adult Britons who owe money on credit cards has risen by six per cent to 41 per cent over the last three months.
However, the survey detected that millions of Britons who have contributed to the rise in borrowing are not confident over their ability to make repayments.
Of those polled some 33 per cent said they were concerned or very concerned over the likelihood that they will be able to keep up to date on their borrowing.
Meanwhile, nine per cent admitted to being very concerned over their ability to manage their debts.
Sean Gardner, chief executive at the firm, said: "The Christmas spending spree has undoubtedly had an effect and many who have increased their borrowing will probably clear their debts in the next few months.
"Anyone who is worried that they are struggling to keep on top of their debts is heading for serious trouble if they do not take action now."
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