Debt worries ‘hurting holidaymakers’

Figures from MoneyExpert.com show that debt management issues are still getting worse for many thousands of Britons who borrowed money to fund their holidays in 2006.

In addition, around 920,000 UK consumers have only recently managed to pay off the debts they racked up in their eagerness to go away on holiday last year, the recent study discovered.

Sean Gardner, chief executive of MoneyExpert.com, said: “Holidays are a time for getting away from it all but too many of us are just getting into debt and building up troubles for the future.

“With borrowing costs rising across the board there is real concern that too many people are trapped in a spiral of debt which ultimately threatens to overwhelm them.”

A report from uSwitch.com recently claimed that millions of credit card users in the UK could be facing decades of debt management difficulties if they only repay the minimum amounts required by their service providers.