Christmas overspending will leave thousands with 'crippling debt'

Shoppers on Patrick's Street, Cork last Wednesday, traditionally one of the big spending dates for Christmas. Pic Larry Cummins

Thousands more Irish families will start the New Year with crippling debt problems because of overspending at Christmas, financial watchdogs have warned.

Experts have warned that householders are facing even more severe post-Christmas financial problems than they were following last year's festive season.