Christmas debt still hangover for many

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One quarter of Britons will not have cleared their Christmas debt until they get next month’s pay packet, research suggested today.

Just over one fifth (22 per cent) of people also said they do not foresee being able to pay off the debts they accumulated last year during 2013 at all, the Co-operative Bank found.

Consumers spent an average of £350 more than their budget allowed in December, and only one in ten questioned said they had managed to get back
on track by the time
they reached last month’s payday.