Christmas has become all about spending, and with the credit crunch hanging over our bank balances it can be very tempting to put everything on your credit card and then forget about it until the New Year. But be warned, you will end up with a very nasty New Year Debt Hangover.

There are ways which you can try and avoid Christmas Debt and shops are eager for us to spend our money on their products. Many High Streets chains are slashing their prices this Christmas with one day sales, some by up to 25%!

Recent reports reveal that there has been a 35% increase in the number of enquiries about debt management, as well as an increase in the number of people seeking repossession advice due to falling behind on their mortgage or secured loan payments and ending up with mortgage arrears.

It is particularly important to set out an action plan for your Christmas spending so you can ensure that you can still make everyday bill payments, such as store cards, credit cards and utility bills.

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