THE party is over, the presents are unwrapped and it's time to face the consequences. Retail experts say that spending for Christmas has never been so great with the bulk of it being put on the plastic. But next week the never-never becomes a reality as the credit card companies begin to call in their debts.

Forty-three million cards came out of their protective wallets over the Christmas period spending a total of £8.5bn on goods and services - that's about £7,000 a second and 24 per cent more than last year.

Consumer debt, including mortgages and cards, now totals £660bn, up eight per cent on last year and 36 per cent on five years ago.

And the spending hasn't stopped there with shoppers hitting the January sales hard. "Spending on credit is continuing apace," says debt counsellor for Debt Call, Dave Thompson. "And everyone I have spoken to has said everyone is going sales daft. We are already being inundated by people who have gone over the top looking for advice and help, in fact twice as many as at this time last year.

"By the middle of the month people are going to start getting their bills and we are cautioning people that the last thing they should do is put their heads in the sand because then they will start getting the threatening phone calls and letters."

Only a generation ago, most people didn't buy anything unless they could afford it. In a frugal society based on post-war values, many working men were determined to be mortgage-free by the age of 40, by which time they had also built up a healthy nest-egg, comprising savings, pensions and assurance policies.

If they couldn't afford the consumer goodies, they simply didn't buy them until they could.

Christmas was an event which was saved for all year, as were holidays, cars, and furnishings. People bought cheap, second-hand or made do without.

But that was before the boom and bust years of Thatcherism, when grown ups acted like children in a sweet shop, with unbridled spending and decadence.

"It was a bullish economy and everyone was so confident, they got into the 'must have now' mentality," says Mr Thompson.

"It was all about image. Having the right car, house, clothes. It was an hedonistic period where we all went daft and became very credit-accepting.

"Nowadays, people know their salaries, their direct debits and standing orders, but the credit and store cards are variable. They are aware of the minimum amounts but not the total outstanding.

"They could find themselves owing £15,000-£20,000, which usually results in abject terror."

For many people with debts, the burden can be too much, regardless of how much is owed. A spokesman for Darlington Samaritans says they receive countless calls where financial worries are a factor.

"A large number of our callers have debts and they can be the straw which breaks the camel's back," he says. "One guy with a debt of just £30 was thinking about suicide. We have had others who got store cards, bought the Christmas presents, but realise now they can't pay for them. We can't make a magic wand but we can listen and, hopefully, cool them down and stop them doing something which they can't come back from."

Since 1979, in this country, voluntary groups have been acting as community banks to help people make ends meet. The Darlington and District Credit Union Forum has scores of members and combines saving with low interest loans.

Secretary Pat Buckle has been involved with it for the past ten years. "It's excellent," she says. "It's based on the old idea of a mutual society, where people helped each other. With many local bank branches closing, we are also hoping to fill this gap. The credit union is owned by its members."

Members pay £1 to join and save an amount for 13 weeks, before they are eligible for a low-interest loan. Their repayments also include savings so when the loan is finally settled, there's a nest-egg too.

Mr Thompson says people's problems are often exacerbated by the loss of a job, break-up of a relationship, or illness, which can strike any time. Even then the debt doesn't just go away, it has to be recognised and managed.

Debt Call counsellors analyse each case as a first step to getting the individual out of trouble. A temporary money management plan is put in place to stabilise the situation and stop it getting worse. Options then include re-mortgaging to release equity, looking at pensions and assurances and, in the worst cases, bankruptcy.

"We work in their best interests and it does take time. But debt will not just go away. Do nothing and it will only get worse."