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People worried about whether now is the right time to take out a loan to pay for Christmas may be interested to hear the advice of one sector commentator.

According to Darryl Bowman, director of CreditExpert.co.uk, the holiday season is a time to have fun and people may not want to sacrifice that in order to stay in the black.

Indeed, he claims that if individuals do decide to go into debt, they should do so responsibly, while one option households may think is the most suitable for them to cover their costs could be secured loans.

"Don't over extend yourself and try your hardest to find the right product that is best for you and costs you as little money as possible," Mr Bowman advises, while people may be interested to know that secured loans could have a lower annual percentage repayment rate than other loans.

Such a cash injection may be needed after Abbey revealed that disposable income has dropped by 29 per cent within the last two years.

While secured loans may provide a Christmas cash pot, the lender may be given security in the form of a current property, should the borrower stall on repayments.