Over ten million people `get into debt to fund holiday`

32% of adults going away this year are getting into debt to fund their summer holiday, research from Bright Grey has found.

Ten million holidaymakers will use credit cards, travel agent payment plans or loans from friends and family to pay for their break.

Of these, more than half (58%) do not have the money to repay their lenders straight away. Protection specialist Bright Grey says this could add over £100 to their holiday costs for each month it takes to repay the balance if they`ve used their credit cards.

An expert at debt management company Gregory Pennington commented: "A lot of people use credit to pay for holidays, and there`s nothing necessarily wrong with this - as long as they know how and when they`re going to repay the debt.

"But we`d advise holidaymakers to avoid getting into debt if they have any doubts. Interest will build up on most kinds of debt, and the sooner it`s repaid the less likely they are to get into trouble."

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Gregory Pennington offer debt advice and debt management plans, as well as a range of other debt solutions. If you are worried about debt, contact one of our expert debt advisers now.