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More than 4 million fear they`ll be made redundant Consumers took on more mortgage debt in July Debts called in by parents Teenagers `scared of debt` Rising household costs could pressure people in debt Pensions debt may impact workers` retirement funds Welsh young adults `at highest risk of debt problems` Over 50s can`t afford to enjoy retirement because of debts Budget: tackling the nation`s debt Short-term debt: `no need for price control` The cost of clearing debt Education debt Tackling the national debt Number of mortgage deals on offer exceeds 3,000 Almost 5 million take on debt to pay household bills OECD: household debt more than 120% of disposable income Petrol price falls help people in debt Amount of mortgage debt taken on at lowest level in ten years Northern Ireland sees significant IVA rise Overdraft debt `becoming more expensive`

Debt advice sought as over 1m pay rent on credit cards

18/10/2007

As many as one million British consumers have paid their mortgage or rent off by credit card forcing many to seek debt advice, research from a national charity suggests.

In an attempt to get on to, or stay on, the housing ladder, figures from charity Shelter claim almost 7.5 per cent of 18 to 24-year-olds paying for their home on a credit card in the last year.

The survey, conducted by YouGov for Roof magazine, found that six per cent of those polled had paid for rent or mortgages on a credit card, equating to over one million people. As a result, many have had to seek professional debt advice as debts increase.

Stuart Freeman, director of services at Community Housing Advice Service, said: "There is such pressure on people`s budgets that paying your mortgage or rent by credit card, then paying that card with another card is becoming the norm for many people. It leads to an ever spiralling maze of debt, and eventually the credit simply runs out."

Shelter is a UK-based charity which supports homeless people and the less well off.

More than 4 million fear they`ll be made redundant 16/12/2010 - According to R3`s quarterly personal debt tracker, more than 4 Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according