People not paying off Christmas loans

Credit card holders will still be paying off their Christmas loans beyond January, Sainsbury’s Bank has found.Research from Sainsbury’s Bank suggests that one person in five claims they will not be able to clear their festive season bills this month. Some 168,000 people estimate it will take them longer than one year to do this, resulting in much higher interest payments than the corresponding amount taken out on a secured personal loan. Sainsbury’s Bank also found that consolidation loans are