Debt-ridden Brits still paying off holidays

People in the UK are yet to pay off debts built up from taking holidays last year, new figures have suggested.

A study by ICM Research and sponsored by GE Money Home Lending found that 1.98 million Brits are still managing debts accrued from taking a vacation in 2008.

Furthermore, the average family owes £1,012 from this time away, resulting in a UK total of £2 billion.

Chris Tapp, director of Credit Action, said that many individuals will have racked up unnecessary amounts by waiting until the last minute to book a trip.

He remarked: “With the economy still in recession and consumers’ finances often stretched our advice is shop around and don’t be seduced by the last minute bargain.”

Kate Kenward of the Association of Independent Tour Operators recently commented that the recession is not having much of an effect on people’s decision to take a holiday as it is a priority for many families.

By Francis Finch