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Article: WORST EVER DEBT CRISIS; Anger as Scots face months of struggle to pay off credit cards Credit card debt sends thousands into bankruptcy.
- Article from:
- Daily Mail (London)
- Article date:
- January 18, 2005
CopyrightCOPYRIGHT 2005 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: JONATHAN BROCKLEBANK;ALAN SIMPSON
SCOTLAND is facing its worst- ever consumer debt crisis after the most crippling Christmas spending spree on record.
Financial experts say credit card debt has hit epidemic proportions.
They fear thousands will not be able to clear off their festive debts until 2006.
Scots are estimated to have spent [pounds sterling]3billion over the Christmas period, 90 per cent of it on plastic - a rise of 20 per cent on last year.
This has led to a huge financial hangover this month as credit card bills for December land on doormats across the country.
Debt helplines have seen their ...