Major News Group Hosts Christmas Debt Help Session

The BBC has recently announced that it is going to sponsor a special session to help people in the UK handle their debt loads, especially after having recently gone through the Christmas spending season. Many consumers have written to the network hoping to receive expert advice on how to handle the Christmas debt that was accumulated over the course of the past several weeks. Starting in November and lasting through the end of December, Christmas debt is a major issue in the United Kingdom. With many people spending substantial amounts of money over these past several weeks, the BBC believes that there is a large demand for the expert services of a debt consultant.

Many people have spent large amounts of money during the holiday season, and they are worried about how they are going to deal with the problem of controlling the debt. Most people have reported they spent extra credit card funds on items such as food, drink, presents, and entertainment. The Bank of England estimates that over 6,000,000 people in the United Kingdom alone had to borrow money to pay for the expenses associated with the season.

Christmas 2010 was an expensive one, with many people holding off on major purchases until this time. For some, the attractive incentives convinced them to go ahead with the deal. Others had been very conservative throughout the year 2010 only to celebrate through spending for the holiday season. Many retailers coaxed customers with low or no interest rates on purchases for some items. However, other retailers had normal discounts and promotions. Buyers were found at each of these situations, and the amount of money spent was sizable.

The BBC is trying to help people manage the debt from these expenditures. The estimation is that it will take over six months for 1,000,000 people to pay off their debts. Many of these people are finding the Christmas debts too large to handle. In turn, the BBC will host a special session with debt expert Sue Elliott. Sue is from the Consumer Credit Counselling Service, otherwise known as the CCCS. Sue has been working with people who need to pay down their debts for a long while already. She has several methods for solving these financial problems for people, and the session will provide valuable insight into how individuals can save themselves from the Christmas 2010 debt load.

Some of the methods which were likely to be discussed include ways in which the debt can be paid back without interest, ways in which to stay within a certain lifestyle, and options for those who would like to pay off their debts. For those who would like questions to be considered for discussion in this panel prior to the event taking place, the questions should be submitted to the BBC. The discussion will take place on 17 January 2011 and is sure to be a great conference for those interested in ways to reduce their debt load.