Debt advice 'most needed' in January

08/01/2010

Debt advice is most needed in January, a leading debt charity has suggested.

The Consumer Credit Counselling Service along with a number of debt advice providers, has increased the numbers of caller handlers available to help those struggling with debt this month.

Between December 2008 and January 2009, the charity saw a rise of 3,000 in callers looking for debt advice.

It is thought that Christmas has a "negative impact" on money management and debt which people fail to deal with until January or sometimes much later.

CCCS chairman, Malcolm Hurlston, commented: "The most important thing to do when you are struggling with debt is to face up to your situation.

"Anyone who is finding it difficult to make ends meet should seek help as soon as possible.”

Kevin Still, director of EuroDebt, added: "The effects of over spending or increased borrowing can be quite acute in the New Year, especially if you were paid slightly earlier in the month and the salary has to stretch an extra week.

"Many consumers still haven’t paid off Christmas 2008 and are in danger of getting into a debt spiral. We would encourage anyone who is struggling to meet contractual payments to seek money or debt advice as a matter of urgency."

Tags; Debt Management and Banking,

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