One million people pay rent or mortgage with plastic
January 12, 2010
New research which shows that around one million people in the U.K. have admitted to relying on their credit cards to pay for housing costs such as the rent and mortgage has caused concern at the homeless charity Shelter. Over the last twelve months the charity claims that six percent of households have been putting their housing expenses on plastic. Director of policy and campaigns at Shelter, Kay Boycott said that it was shocking to learn that so many people who feared losing their homes were relying on accumulating credit card debt to keep them. She pointed out that increasing debt in this way could never be the right answer.
Shelter says that the results of the research are a warning that many people could end up losing their homes this year. In worst case scenarios those who are paying their mortgages on plastic could find their homes being taken from them to cover the debts. The charity has advised anyone who is in this situation to seek urgent advice. Ms. Boycott said that those who feel they might be in trouble should get advice sooner rather than later. She said the sooner the problem was looked at the more options were likely to be available. Shelter is always ready to give free advice to people who are having housing and debt problems. Throughout the U.K there is a network of services ready and willing to give advice to those who need it.
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