Debt advice seekers 'double in January'

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Debt advice seekers 'double in January'

Mon 9th Jan 2012

The number of individuals seeking debt advice across the UK is set to double in January as many Brits look to tackle the financial hangover of the festive period, it has been revealed.

David Rodger, managing director of Debt Advice Foundation, said every year is the same, with the number of inquiries to debt advice charities increasing significantly in January, as people across the country deal with the reality of Christmas overspending.

He commented: "Taking on additional credit to cover day-to-day living costs, especially through high-cost credit such as credit cards and payday loans, is not tackling the underlying problem. It is actually making the situation worse."

According to research from gocompare.com, 26 million people across the country have made a financial new year's resolution, with almost half of respondents to a recent poll saying 2012 is set to be the year when they plan to get their finances back under control.

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