MILLIONS of shoppers are still paying off debts they ran up during spending sprees last Christmas.
Research has found 10% of UK adults - 4.4 million people - have yet to pay back all the funds they borrowed during the festive period in 2006, according to the financial comparison website MoneyExpert.com.
A survey commissioned by the online site
found 14% of those aged 35 to 44 were most likely to be suffering a financial hangover from last Christmas.
Women (11%) were also more likely to still be paying off 2006 debts compared with men (8%).
The website said that someone carrying a balance of £1,000 from last Christmas will have spent about £169 in interest over the year if their rate was 16.9%.
Sean Gardner, chief executive of MoneyExpert.com, said: "It is not time to cancel Christmas but for millions of us it really is time to cancel some credit cards.
"We can all give in to temptation at Christmas and put it on plastic but if the debt lingers from year to year you're starting to get into trouble. Borrowing money is fine as long as you have a repayment plan.
"Unfortunately it appears millions of us do not. And with lenders getting tough that is not a good position to be in. If you've not cleared the debts of Christmas past it is time to face up to the future."
However, the online survey of 1,978 adults found 54% did not get into any debt last Christmas or paid it off in a month or less.
The high streets of Scotland, meanwhile, have been warned to expect a record number of shoplifting incidents.
According to security experts, it is estimated that almost £49,000-worth of goods will disappear from stores across the country each minute during the festive season. While the most stolen items remain perfume and alcohol, other goods such as fresh salmon and cheese are new priorities for the professional gangs.
This year, Saturday, December 22 is expected to break all records for a single 24-hour period of Christmas thefts.
According to figures released by retail analysts, during the four weeks leading up to December 25, a total of £431m-worth of stock will be stolen in the UK - around £45m in Scotland alone.
One police source said: "Everyone knows that at this time of year, there is an increase in incidents of shoplifting but it would appear that this year is going to see a really significant rise.
"It is believed that teams of professional shoplifters, many from Eastern Europe, will be working in both Glasgow and Edinburgh and we will really have to be on our toes to ensure that we keep them in check."
He added: "They are stealing to order and they are extremely efficient and know precisely what they want.
"Even with all the increased security techniques that the stores have with the electronic tags and CCTV, they really are up against it with these gangs."
But on a more positive note, the country's consumer spending is expected to soar by 4% compared with last year, with more than £1bn being taken at the tills.
Glasgow is expected to heavily outspend its east coast rival, Edinburgh, spending £570m compared to £480m.
Each Scottish household is expected to spend £162 on food and drink, with the average Christmas Day lunch costing £15 a head.
The full article contains 576 words and appears in Scotland On Sunday newspaper.
