SVP warns against Christmas borrowing

Saint Vincent de Paul is warning people about the dangers of borrowing in the run up to Christmas.

The charity has expressed concern that the country's banks are offering customers more pre-approved loans and credit cards than ever before.

Personal lending has doubled in recent years and the collective personal debt to lending institutions in Ireland now stands at €155bn.

Stuart Kenny of Saint Vincent de Paul people should be careful about spending and should contact their local credit union if they run into difficulties.

"Remember that there will come a moment at which the money will have to be repaid and if they do find themselves in a very serious position prior to Christmas certainly call your local credit union," he said.