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Christmas Shopping Hangover Expected For Record Number Of Britons

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Debt firms fear deluge

Most charities say they expect a deluge of calls when their lines open on Tuesday 3 January and calls generally get heavier throughout the month as bills land on people's doormats.

Although High Street spending has been subdued this year, it is still thought that millions of people have overspent this Christmas and will accumulate unmanageable debts.


Grant Thornton's report predicts the first quarter of 2006 will see nearly 20,000 personal insolvencies - the highest number since records began in 1960. Some 6,500 of these will be a direct result of people racking up too much debt on credit and store cards over the festive season.

Grant Thornton says: Christmas shopping hangover expected for record number of Britons

Almost 20,000 personal insolvencies are expected in the first three months of 2006 of which 6,500 will be as a result of excessive Christmas spending, according to Grant Thornton's personal insolvency practice. The prediction comes in the wake of record numbers of personal insolvencies in 2005, which are expected to top 66,000.

With the normal post christmas minimal high street spending as everyone recovers from the binge, possible record number of personal insolvencies.. post Christmas it's still going to be a tough time for the high street.

My predication is we'll probably see even less spending and a number of retailers cutting back on staff...

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  • 335 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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