Debt counsellors warn on cost of bounced debit orders and festive season overspending

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December may signal the start of the 'silly season' but the National Debt Counsellors’ Association on Wednesday warned this does not mean consumers should make silly decisions with their cash.

January arrives with its own financial pressures, such as purchases of school uniforms and stationery which, if not prepared for, can also put people into debt.

Sager warned that the consequence of debit orders bouncing often lingered long after the festive euphoria subsided.

 

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