Press release: Almost half of Brits to use credit and overdrafts to cover Christmas, while 1.4 million turn to payday loans

18 November 2014

According to the Money Advice Service’s annual Christmas spending survey released today, almost half of Brits (46%) will turn to credit cards, store cards and overdrafts to cover the cost of Christmas this year. In addition the research highlights that 1.4 million UK adults will rely on payday loans. In last year’s survey, an estimated 1.2 million planned to turn to this high-interest credit option.