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Debt - 25% of Consumers Still Laden With Christmas Debt - 01/02/2008
A revealing survey recently released by Sainsbury's Finance demonstrated that one quarter of borrowers do not expect to have their Christmas debt paid off by the end of this month. The research found that a further 61% expected to be in the clear by the end of February, but 15% said it would take around 3 months, whilst 10% of people believed it would take them anywhere between four months and a year to offload payments from last Christmas.

Donald MacLeod, head of cards at Sainsbury's, said: "We estimate that around 18 per cent of Christmas spending was placed on credit cards. Our research indicates that around 8.6 million people intended to put half or more of their festive spending on cards".

At a time when consumer credit is running high, more and more people are being forced to turn to services such as debt consolidation companies to manage their overspending.
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