CCCS: Underlying debt could create holiday problems

Thu, 23 Aug 2007

People with an underlying debt problem could compound their difficulties when they are on holiday, according to an expert.

Frances Walker from the Consumer Credit Counselling Service (CCCS) warned that holidaymakers tend to spend more on themselves during holidays.

"When you go on holiday you tend to treat yourself to a few more things," she said, adding that people are likely to use their credit cards more than they would at home.

However, the same principles should still apply in that arrangements will have to be made to repay credit card debt as "that should stop you getting into any serious debt".

The debt accrued by holiday spending need not create long-term problems for the savvy spender, with Ms Walker pointing out that this type of debt will only be problematic if the consumer has "an underlying issue" with debt.

Her advice is for people to save ahead of holidays and Christmas , when people are more likely to overspend on credit cards. However, many people fail to do so.

"You just need to plan to repay your credit cards back and not go on using them," Ms Walker stated.

Research by CreditExpert.co.uk found that every year some 12 million British holidaymakers go into debt to fund their vacation.

add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.