Debt help needed on New Year's Day
15/12/2010Many Britons feel that they've reached their lowest financial ebb on 1st January and may be tempted to seek debt solutions.
A study by Money.co.uk has found that debt fears are raised on New Year's Day more than any other day of the year. 31st of January is the second-most feared day, whilst Christmas Day doesn't follow too far behind.
Chris Morling from the website explains people's need for debt advice on the first day of the year is down to a number of factors, including Christmas spending and the long wait until their next payday. In 2011, the VAT increase is also causing debt concern.
The survey also found that three-in-ten people will make reducing their debt levels their New Year's resolution.
Kevin Still, debt management expert from Atlantic Financial Management says, "The combination of a hangover and reflection on their New Year's resolution may put some of this in perspective, however, January is normally a tough month with the store and credit card bills hitting and, next year, VAT increasing.
For those with serious debt hangovers then debt advice may be the right next step to making their resolution actually happen." 
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