Wednesday, 4 January 2012

One million people have taken out a payday loan to help pay their rent or mortgage in the last 12 months

One million people have taken out a payday loan to help pay their rent or mortgage in the last 12 months, according to survey findings released by Shelter today. The astonishing results reveal the spiral of debt that people are falling into in order to keep a roof over their head.

Shelter has a network of debt advice services across the country, I would encourage people in difficulty to contact them. Their online advice is available at www.shelter.org.uk/debt and the free telephone helpline number is 0808 800 4444.

The survey also reveals that almost seven million people are relying on credit in some form to help pay their housing costs; using payday loans, unauthorised overdrafts, other loans or credit cards. For many the New Year brings with it the risk of homelessness and we are urging anyone worried about their debts to make seeking early debt advice their New Year’s resolution.

You can also follow Shelters campaigns on twitter @shelter for links to advice services for your constituents and feel free to retweet details to your followers.