Now that credit card bills and loan repayment invoices are arriving after the festive season, millions of people are bracing for the financial realities of Christmas spending. Recent research from lender Creditspring reveals a worrying trend - with over 9 million individuals entering 2025 with significant debt due to the rising costs of the festivities.
The research highlights that young people, particularly those aged 18-34, are the most affected:
The harsh reality is that many are now left grappling with the burden of credit card and loan repayments - a situation that we often see reflected in the numbers of people engaging with CHAP services at this time of year.
For those facing financial challenges, it’s important to remember there’s support available. High levels of debt, if left unmanaged, can quickly spiral out of control, but help is just a phone call away.
At CHAP, our dedicated Money Advice Team can assist you with managing debt and regaining control of your finances. Our services are free, independent, and confidential, ensuring that you get the support you need to plan for a more financially stable year ahead.
If you live in North or East Ayrshire, please don’t struggle alone - get in touch today:
Call us on Freephone 030 0002 0002 or use the live chat feature on our website.
Together, we can help you take the first step towards a brighter financial future.
Source:
Financial News