Debts rising amongst the poorest
January is always a tough month but for the poorest in our Country, this month pushes more into a spiral of debt.
For some, it is 5 weeks before payday and this could push those looking to eat into short term loans.
In fact, British workers put an average of £252.30 of their Christmas spending onto credit cards or loans. It will typically take them more than four and a half months to clear that festive debt, which will mean a particularly expensive start to the year for those borrowers forced to rely on expensive payday loans and high interest credit cards.