Over 4.4 million credit cardholders have yet to clear the debts they built up over the festive period last year, it has been claimed.
MoneyExpert.com reported that ten per cent of adults in the UK have not managed to pay off their Christmas spending from last year and urged people to manage their borrowing better.
Sean Gardner, chief executive of the firm, said: "We can all give into temptation at Christmas and put it on plastic but if the debt lingers from year to year you're starting to get into trouble."
Borrowing is acceptable if people have a plan for making repayments, but millions of people fail to take such steps, he stated.
The UK payments association Apacs recently predicted that UK consumers will spend £53 billion during the Christmas period, with 64.3 per cent of spending set to be made using plastic cards.
According to the organisation, consumers will spend 11.7 billion on their credit cards in December this year.
News Side
Millions paying for last Christmas
Tue, 04 Dec 2007
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