Tuesday, 12 January 2010

Using plastic for rent

No real surprise to those of us who have suffered or are in the process of suffering money problems - it has just been reported that up to a million families have had to resort to paying for their mortgage or rent with credit cards over the last year. Well done Shelter for exposing this, the following is a quote from the Guardian:

About 1 million families have resorted to using credit cards to pay their mortgage or rent during the past year, the housing charity Shelter claimed today.

A survey by the organisation found around 6% of households had used their plastic during the past 12 months, in order to keep up with their housing costs.

People in working class professions were most likely to use debt to cover their mortgage or rent at 8%, but 4% of ABC1s also admitted they had used their credit card in this way.

Read the whole thing at : http://www.guardian.co.uk/money/2010/jan/11/credit-card-mortgage-rent (The Guardian, 11th. January, 2010)