Dundee Anti-Poverty Forum chairman Jim Milne told the Tele many ordinary families were already facing financial hardship, and the Christmas credit card bill would be awaited with dread.

He said it was imperative that anyone struggling to cope financially sought help immediately and did not just allow themselves to drown in debt. He said, “It has been the same for a lot of years. People will have overspent and will find it difficult meet the payments on their credit cards when they come through.

“There is nothing particularly new in that, but people will have to tighten their belts to service the debt the have accrued.

“If people have got debt and they are finding it hard to maintain, then the first thing they should do is go to the people that gave them credit — be it a bank or a finance company — to flag it up. It is the same with mortgage repayments —let them know when you perceive there is a problem on the horizon.

“If you are finding it difficult to manage debt, then seek immediate advice — Dundee City Council has the Welfare Rights Team, there’s the Dundee Money Advice Support team and, of course, there’s the Citizens Advice Bureau.

“People should go as quickly as possible to receive the assistance and advice they need.”

Sean Gardner, director of MoneyExpert.com, said financial difficulties should be confronted head on rather than simply ignored and left for another day.

He said, “Debt has been the ticking time bomb in the UK economy for the past few years, with regular warnings it’s about to go off. The fear must be that 2009 will see the explosion.”

Mr Gardner added, “The fact that one in eight adults has sought debt help shows debt advice is a growing industry and demonstrates there is help out there.

“We’d advise everyone who is concerned to seek help early. There is plenty of good advice, from debt counselling charities to services such as ours, which can help you.

“Don’t bury your head in the sand.”