Christmas plastic debt set to reach £32bn

Apacs added that once cash and cheques are taken into account, December’s projected debt figure rises to £51.6 billion, a 6.6 per cent increase on the 2005 figure.

“Overall our penchant for plastic continues and it looks as though this Christmas our plastic cards will continue to replace cash and cheques for our festive purchases,” said Sandra Quinn, director of communications at Apacs.

Her comments come as several consumer finance experts urge Britons to start their festive debt management plan now to avoid starting the new year in the red.

However, Ms Quinn said that the Apacs figures also showed that people were taking certain debt advice and managing their credit card debt better.

“Over recent months we have seen that cardholders are becoming more responsible in the way that they borrow, reining in their spending and focusing on repayments,” added Ms Quinn.