It seems that Christmas has come home to bite as revealed today. More than one in four adults are borrowing money to pay back other loans – many because of the credit cards run up at Christmas.
One in three borrowers also admit they are ‘concerned’ or ‘very concerned’ about their ability to pay off their debts. At the same time one in four have successfully cut the amount they owe in the last 3 months. So it is not all ‘gloom and doom’.
It is one thing to realise a situation, and another to begin doing something about it. Don’t bury your head in the sand, work out a repayment plan.
The sharp man sees the evil and takes cover: the simple go straight on and get into trouble.
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