Dealing with debt ‘will be new year’s resolution’

For millions of consumers across the UK dealing with debt management will be an issue for the new year and not for the festive season, it has been claimed.

A study conducted recently by Mintel concludes that the desire to enjoy Christmas will see British consumers set aside their financial concerns until January.

Record amounts of money are expected to be spent online and on the high street in the UK over the course of the next few weeks and many people look likely to put off the struggle to become debt free until the new year.

Richard Perks, director of retail research at Mintel, said: “During 2007 overall spending has slowed down, but our research shows that confidence is still remarkably strong.”

“The signs are that nothing is going to come between British shoppers and having a good Christmas this year,” he added.

A spokesperson for the Consumer Credit Counselling Service urged shoppers to ensure that their Christmas spending does not leave them facing debt management disaster.