Interest rates on online loan offers can be as much as 45%
The Central Bank is warning people to be vigilant if they take out a loan to repay any Christmas debt.
The bank says families facing bills from the festive season can be tempted by 'easy loan' offers online.
Some of the offers have interest rates of up to 45 percent and in some cases people could have to repay twice what they borrowed.
Financial Advisor John Lowe says the difficulty in getting credit is the biggest factor: