Consumers Carry Over Xmas Debt
Saturday, January 12th 2008
More than 4.4 million people are still paying for last Christmas, according to research from MoneyExpert. In addition, the financial comparison site has pointed out that someone carrying a balance of £1,000 at an interest rate of 16.9% will have spent around £169 in interest over the last year. However, research into Christmas debt by MoneyExpert also found 54% of adults either didnt get into any debt last Christmas or paid it off in a month or less. A further 9% took two to five months to clear their festive debt.
