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Abbey has found that 21% of shoppers plan to put all the Christmas shopping on their credit card this year.

It has also found that 20% of people will be dipping into their savings to make sure they can afford all they want this holiday.

If you are one of these people that can’t afford Christmas spending, don’t get caught in the unsecured trap. And don’t spend money you desperately need to get through the next year.

If you keep spending on the plastic, it will come back to haunt you tenfold as bills start piling up – bills you do not have the ability to pay. There is no doubt about it, 2009 is going to be a tough year financially. So get the best start possible and begin to sort out your debts, not make them worse.

If you are in arrears, the best thing to do is make up a plan of action. Don’t cut Christmas out altogether; just get your priorities in order. It might be hard, especially with kids, but it is essential you get out of the credit spiral and take hold of your money problems, even during the Christmas season.

Those that can cut their credit bills instead of increase them in December are those who are the right path – and if you can do it at this time of the year, January will be a whole lot easier.

To Keep up with news and comments on the current adverse credit market please visit the Adverse Mortgage Blog.