|
1 In 4 Will Get More IN Debt To Pay For Christmas
12.00.00am GMT Sun 9th Nov 2003
A new survey shows that 27% people are planning to use their credit cards and loans to pay for Christmas this year. Britons plan to spend an average £446 each according to Abbey. Malcolm Bruce MP, Liberal Democrat Shadow DTI Secretary, said: "It is not only the turkey that will get stuffed this Christmas if people rely heavily on credit to fund the festivities."
"People would do well to heed the recent advice of Matthew Barrett, the Chief Executive of Barclays, not to pile up debts on credit cards as the borrowing rates were 'expensive'."
"With personal debt at records levels and interest rates beginning to rise, people should be extra careful this Christmas that they don't spend beyond their means. The credit card debt hangover could last well into the new year for many families."
[Print this story]
[Previous story]: 13% Rise In Personal Bankruptcy In Last 12 Months (Fri 7th Nov 2003).
[Next story]: Credit Card Fraud Great Cause For Alarm (Mon 10th Nov 2003).
[Other news stories from November 2003 (41)]
Printed and hosted by Prater Raines Partners, 16 Riviera Court, Sandgate High Street, Folkestone CT20 3RP.
Published and promoted by Liberal Democrats in Business, 4 Cowley Street, London SW1P 3NB.
The views expressed are those of the party, not of the service provider.
|