North East charity says you don't have to face New Year debt alone
A North East debt charity says this New Year many households could be facing a frightening financial reality as the post-Christmas bills arrive.
They are raising awareness that you do not have to face the situation alone and urging those struggling to reach out.
Paul Jackson, North Regional Director at Christians Against Poverty, said: "I think in the North East it's about 20% of people face genuine anxiety around their finances and that's probably increased a little as we go into the new year, just as people come out of the Christmas bubble and reality hits.
"The celebrations and the fun of Christmas kind of goes away and the reality of the New Year. I've also got to be realistic that it comes on the back of 3 or 4 years of a cost-of-living crisis that has driven prices for the essentials higher and higher.
"You don't have to face this alone. Isolation tends to make debt worse. We know that from our clients at Christians Against Poverty, many people wait over a year before seeking help from CAP."
5 WAYS TO ‘BREAK THE DEBT BLUES’
To help households this New Year, CAP is also releasing its top 5 practical tips:
- Do a ‘benefits check-up’: Millions of pounds in benefits and grants go unclaimed every year. Even if you work, you may be eligible. Use a free online benefits calculator (available at capuk.org/calculator) to check if you are missing out on income you don’t have to pay back.
- Audit your subscriptions: It is easy to sign up for TV, music and app subscriptions, and then forget about them. Check your bank statement for direct debits you no longer use. Cancelling just two unused subscriptions could save you over £200 a year.
- Check your contract status: Are you out of contract on your broadband or mobile? Loyalty rarely pays. If your contract has ended, you are likely overpaying. Switch providers or haggle with your current one to lock in a lower rate for 2026.
- Try a ‘No-Spend’ challenge: Kickstart your savings by designating ‘no-spend days’ in January and February where you don’t buy anything other than absolute essentials. It helps reset some of the spending habits formed during the Christmas rush.
- Seek help early: If you find yourself in unmanageable debt, don’t wait! The earlier you seek free debt advice, the more options you have. Charities like CAP provide free, FCA-accredited debt help.