The Irish League of Credit Unions (ILCU) has reported a significant increase in the number of loans being given to people to pay of credit car debts.
ILCU Chief Executive Mr Liam O'Dwyer said in a statement that loans to pay off credit cards have accounted for much of their business since the beginning of the year.
"It would appear a lot of people bit off more than they could chew in the run-up to Christmas," he said.
He urged consumers to "think long and hard" about over-using credit cards to keep their personal finances in order.
"There is a ferocious sting in the tail with credit cards that is doing huge damage to people's personal finances when it's time to cough up," Mr O'Dwyer said.
