AFTER the fun of Christmas comes the shock of paying the price in the New Year.
But for many people, 2012 will get off to a tough financial start, as job losses, tightening budgets and spiralling costs continue to take their toll.
And a New Year resolution to tackle the issue of mounting debt can seem like a daunting prospect.
Paul Moorhead, of leading South Yorkshire insolvency practice Moorhead Savage, says: “People with serious financial problems often try to ignore the fact they are getting into debt over Christmas.
“However, then the bills start to arrive in January and it’s not possible to keep on pretending that the problem isn’t there.
“If you’ve been struggling to pay credit card bills over the last 12 months, Christmas can prove the straw that breaks the camel’s back and there comes a point when robbing Peter to pay Paul is not an answer.”
Mr Moorhead says, however, that a prompt response to the crisis is essential – and seeking professional advice can deliver effective results.
He says: “There really are a number of very good ways of dealing with levels of unsustainable debt.
“There are solutions we can offer that should avert the threat of bankruptcy and provide the first steps towards recovery.
“But the vital issue is always to take the first step right now and not wait until tomorrow.”
For further advice on how to control personal debt call the team at Moorhead Savage, based at Moorgate Crofts Business Centre, South Grove, Rotherham, on 01709 331300.