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Don't ignore Christmas debt, warns OFT

Sat, 07 Jan 2012

Those who've overspent at Christmas are being told not to ignore their bills.

The Isle of Man Office of Fair Trading says it sees a slight rise in people asking for advice on debt management at the start of the year.

The OFT says people often pay their debtors who contact them the most, such as credit card companies, rather than prioritising their rent, mortgages or gas, leading to more problems later.

Andrea Tabb from the OFT says taking on more debt isn't usually the answer [play clip]

Advice on managing debt is available on the OFT's website

 

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Media

• Andrea Tabb