The average Brit will have a Christmas hangover of £325, according to research by financial institution Raisin UK.

1

This includes spending on food, presents, parties and new clothes.

The overall cost of this expensive period means the average Brit will take four months to clear their Christmas debt, according to Raisin.

Plus, only 14% of households will be able to repay everything before the end of February 2024.

But if you’ve been left in financial dire straits because you’ve overspent this Christmas, don’t panic.

If you’re struggling to pay anything above the minimum owed, you should first speak to your bank or lender.

The earlier you start talking to each other the more likely it is that a solution can be found. 

We’ve rounded up some of the organisations that can provide free advice and support.

Debt apps

Many debt apps follow a similar pattern of setting you up with a budget and solution to pay off your debts safely, so it’s really a personal choice of which one you think you’ll work with best.

Be mindful that these apps allow you to see your debts in one place but make sure you aren’t consolidating them outside of the apps to get a loan.

This can result in higher charges and mean you pay more in interest.

Debt Payoff Planner and Tracker is designed to help people set up a budget planner so they can pay off debt and manage their money.

You can set yourself up with a clear plan for paying off any debt, while also continuing with everyday spending.

Freeze Debt has been highly rated on the Apple app store, with reviewers giving it 4/5 stars overall.

When you download this app, you’ll collate all your debts together, input your budget and the app will come up with a plan for you to pay them off safely.

Debt Payoff Assistant is similar to the apps mentioned above, and allows users to be able to see all their debts together and form a constructive plan to pay them off.

The app provides multiple pay off strategies for users depending on their circumstances.

You’ll also be able to track your debt to see how you’re doing and if you’re going to pay it off by the time you’d have hoped.

The app is free to download and use, though there may be an option to buy an upgraded version.

Citizens Advice

Citizens Advice is a national organisation with more than 20,000 volunteers who can help with everything from finding out what benefits you’re entitled to, to claiming compensation for a cancelled flight.

You can find your nearest branch using the tool on its website, or you can contact them by phone on 0800 133 8848.

Its online chat tool is also available from 8am to 7pm Monday to Friday.

Citizens Advice is a free and impartial service, and it can help you come up with a plan to getting on top of your debt including which payments to prioritise and how to reduce your living costs.

The organisation’s website has a useful page with advice on many aspects of debt, but you can contact it for more personalised help.

Try to gather information on all your debts before you speak to an adviser so they can help you understand what you’re dealing with and the best way forward.

StepChange

StepChange is another free advice service offering support and guidance to help you take control of your money.

You can do it online or over the phone, and it’s completely confidential.

You’ll need to provide details of your debts, income and household spending to get a clear picture of where your money goes.

It can talk you through different options such as debt management plans (DMP), individual voluntary arrangements (IVA), bankruptcy, and debt relief orders (DRO) if they are appropriate.

Those in Scotland should note that IVAs and DROs are not available in the country, but there are other options.

But StepChange said it will recommend a solution based on repayments where possible, if you can repay your debt in full over a reasonable period.

You can start the process using its website or app.

National Debtline

National Debtline is a charity run offering free and confidential advice to people in England, Wales and Scotland.

You can contact it online or over the phone on 0808 808 4000, between 9am and 8pm Monday to Friday, and 9.30am to 1pm on Saturdays.

An adviser will ask you about your income and spending, so try and have as much information to hand as possible when you call.

They will also ask for details of where you owe money, and how much you owe.

An adviser will help you work out what you can afford to repay, and help you decide on the best solution for your debt.

Self-employed workers can also get help through Business Debtline.

Other ways to get help

If you are struggling with debt, the best thing to do is seek help and not bury your head in the sand.

Local organisations may also be able to provide support in your area.

National Debtline also recommends contacting organisation such as Mind, Samaritans and Anxiety UK if debt worries are affecting your mental health.

Find out if there is financial support that could help you too.

A benefits calculator can help you work if you might be entitled to extra cash.

The Government’s £842million Household Support Fund sees cash dished out to local authorities to help people in their area.

Contact your local council to find out what support is available where you live and if you qualify.

A number of energy firms also offer hardship grants to people who are in arrears with their bills.

You can also join our new Sun Money Facebook group to share stories and tips and engage with the consumer team and other group members.