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While being a time of celebration and spending time with those closest to us, Christmas can also end up being an extremely expensive time of year.

Credit card debt is unsecured so you don’t need to worry about any of your assets being repossessed, but getting behind with credit card repayments can still cause an alarming spiral into debt.

Credit card interest can be extremely high, with rates of 20% or more commonly being paid by consumers.

If the information in your credit report is misleading in some way, or misrepresents you, and the credit reference agency isn’t able to remove or amend it, you’re entitled to use a Notice of Correction (NOC) to explain your situation.

Quickly clearing your debts allows you to take control of your financial situation and start saving for the future.

If financial demands on you are severe, it’s understandable if you’re worried about paying for Christmas. It’s such an expensive time of year and it’s very easy to overspend, but there are some simple steps you can take to help yourself financially.

If you are experiencing financial worries and your debt simply does not seem to be going down, you may be considering entering into a formal debt solution in order to help you manage.

If you are looking at ways of better managing your money, putting together a solid budget is the best place to start. However, it can be difficult to know where to start and just how much you should be spending on certain things.

Sometimes known as a full and final offer, a debt settlement offer is where you agree to make a lump sum payment to your creditors in order to settle the remaining debt you have with them.

If you have fallen behind in your debt repayments to creditors, you may find yourself visited by a Sheriff Officer or debt collector looking to recover the money you owe.

Earnings arrestment is a form of diligence frequently taken by creditors in Scotland to recover unpaid debts. It involves taking money directly from the wages of a debtor who has failed to adequately deal with their debt.

Universal Credit is replacing a number of state benefits including Working Tax Credits. It incorporates a childcare element for people in work, regardless of the number of hours they’re working.