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Credit cards used 'to cover housing cost'

More than a million householders have used their credit cards to pay their rent or mortgage over the course of the last year, new research has found.

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11 January 2010

Credit cards used 'to cover housing cost'”

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A study conducted by YouGov for the homeless charity Shelter found that people from across the social classes have resorted to using credit cards to pay housing costs.

Manager of Shelter Lincolnshire Andy Nutley said: "If people are already struggling to the extent that they fear losing their home, increasing credit card debt cannot be the answer."

He added that those who are using credit cards to pay for housing costs should seek help as soon as possible so that a suitable plan can be drawn up to help them improve their situation.

Mr Nutley pointed out that the sooner people get in touch to seek help, the more options are available to them.

Different rules apply to the collection of credit card debts to the collection of mortgage arrears, so homeowner could still face problems should they fail to be able to settle their credit card bills.

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