Christmas can often leave families with significant debts to repay. However, there are several options available for free debt help if you're feeling the post-festive pinch.
According to research by financial institution Raisin UK, the average Brit has a Christmas hangover of £325. This includes spending on food, presents, parties, and new clothes.
Raisin also found that it takes the average Brit four months to clear their Christmas debt, and only 14% of households will be able to repay everything before the end of February 2024.
If you've overspent this Christmas and find yourself in financial trouble, don't panic. There are several organizations that can provide free advice and support to help you get back on track.
Debt apps
Debt apps can help you set up a budget and develop a plan to pay off your debts. Some popular options include:
- Debt Payoff Planner and Tracker
- Freeze Debt
- Debt Payoff Assistant
These apps allow you to see all your debts in one place and track your progress. Just be cautious about consolidating your debts outside of the apps, as this can result in higher charges and increased interest.
Citizens Advice
Citizens Advice is a national organization with over 20,000 volunteers who can provide free and impartial advice on a wide range of issues, including debt. You can find your nearest branch on their website or contact them by phone or online chat. They can help you come up with a plan to manage your debt and reduce your living costs.
StepChange
StepChange is another free advice service that offers support and guidance to help you take control of your finances. They can help you understand your debts and explore different options such as debt management plans, individual voluntary arrangements, bankruptcy, and debt relief orders. You can start the process online or over the phone.
National Debtline
National Debtline is a charity that provides free and confidential advice to people in England, Wales, and Scotland. They can help you work out what you can afford to repay and guide you towards the best solution for your debt. Self-employed workers can also get help through Business Debtline.
Other ways to get help
If you're struggling with debt, it's important to seek help rather than ignoring the issue. Local organizations may also offer support in your area. Additionally, organizations like Mind, Samaritans, and Anxiety UK can help if debt worries are affecting your mental health. You can also use a benefits calculator to see if you're entitled to any extra cash, and contact your local council to find out about available support. Some energy firms also offer hardship grants for those in arrears with their bills.
Remember, help is available, so don't hesitate to reach out if you need assistance with your debt.
