A significant number of people in Britain are still trying to pay off loans taken out to cover the cost of last Christmas.
Research conducted by MoneyExpert found that over 4.4 million credit card holders still have outstanding balances from last Yuletide.
And with Apacs reporting that consumers are set to spend £11.7 billion on their credit cards this December, the loan repayments are mounting up.
"We can all give into temptation at Christmas and put it on plastic but if the debt lingers from year to year you're starting to get into trouble," said Sean Gardner from the website. "Borrowing money is fine as long as you have a repayment plan."
Despite this, the report also showed that 54 per cent of adults in Britain did not take on any debt last festive season, or managed to repay it within a month.
A recent study from Lloyds TSB found that 59 per cent of people think they will go over their seasonal budget by £174 on average.
