If you enjoyed too much eating, drinking and spending this Christmas then you may need an Alka-Seltzer and debt advice. When the New Year is celebrated and the festivities come to a close for another year, many may realise just how far in debt they have become. Certainly, the 8% that according to polls rely on credit cards and loans to tide them over Christmas may be seeking debt advice and this year many more may have followed suit due to the credit crunch.

If I wanted to clear my debt then I might choose to enter into a debt management plan with a specialist. A debt management plan could allow me to pay off the debts that I have built up before and during the Christmas period, and I would have a plan in place to take me into the New Year. This type of debt solution may be suitable for anyone that has built up debt by way of unsecured loans, credit cards, or home shopping over spending. Another solution worth considering is an IVA, which may work out better depending on how much you owe. With debt management and a watchful eye on your finances, you may be able to keep on top of your money in the future.