Those Who Rent Experiencing Debt Problems
An issue has been raised recently in relation to those who rent their accommodations, and that is that they are much more likely to fall into debt than those who don't rent.
Rent can be one of the biggest drains on a person's finances, especially for those living in cities where rents can be extraordinarily high.
Sometimes in order to be close to where they work, individuals have no other choice but to pay higher rates to their landlords.
However, it is also clear that in general, tenants have a tough time making ends meet after they have paid their monthly bills.
Earlier this year, a number of consumer advice agencies noted a rise in the numbers of debt problems among those living in rented properties.
The Consumer Credit Counselling Service has claimed that more than half of those availing of their advice are people who rent.
In general, you will be at the mercy of your landlord and whether or not they decide to raise your rent, and therefore your financial situation can change drastically very quickly, leaving you with bills you cannot afford to pay.
The director of the Consumer Credit Counselling Service, Delroy Corinaldi, has this to say, "A very large number of people are struggling to keep up with their rent payments, and with rents near record highs, the problem is getting worse, not better.
Household finances are being squeezed as it is, and for many people another rent hike will be the straw that breaks the camel's back.
" Certainly it cannot be a comfortable position for those in debt to know that their rent could rise and make things even worse.
However, there is no point in sitting back and allowing the situation to spiral out of control.
It is still common for many people to ignore their financial issues because they simply don't want to face them.
The best route to take is to be pro-active, and seeking assistance with debt management is the first step.
There are many places to go for advice on debt solutions that it makes sense to take immediate advantage of these.
Another issue that has been reported for renters is poor communication with their landlords.
Often there will be issues with the accommodation that the landlord is not taking care of, such as repairs and DIY that needs to be undertaken.
When tenants are forced to pay for these things themselves it creates an even bigger problem for them financially.
Complaints of this nature being made to official bodies increased in 2011 by 26%, portraying a clear need for some kind of regulation for landlords.
In the UK a survey has shown that rents have continued to rise so far in 2012.
When rents rise and people are unable to make their payments they inevitably fall into debt.
When this happens, the best thing to do is to seek help and expert advice on debt solutions available, and in this way individuals can pay off their debt and get their finances back on the right track.
Rent can be one of the biggest drains on a person's finances, especially for those living in cities where rents can be extraordinarily high.
Sometimes in order to be close to where they work, individuals have no other choice but to pay higher rates to their landlords.
However, it is also clear that in general, tenants have a tough time making ends meet after they have paid their monthly bills.
Earlier this year, a number of consumer advice agencies noted a rise in the numbers of debt problems among those living in rented properties.
The Consumer Credit Counselling Service has claimed that more than half of those availing of their advice are people who rent.
In general, you will be at the mercy of your landlord and whether or not they decide to raise your rent, and therefore your financial situation can change drastically very quickly, leaving you with bills you cannot afford to pay.
The director of the Consumer Credit Counselling Service, Delroy Corinaldi, has this to say, "A very large number of people are struggling to keep up with their rent payments, and with rents near record highs, the problem is getting worse, not better.
Household finances are being squeezed as it is, and for many people another rent hike will be the straw that breaks the camel's back.
" Certainly it cannot be a comfortable position for those in debt to know that their rent could rise and make things even worse.
However, there is no point in sitting back and allowing the situation to spiral out of control.
It is still common for many people to ignore their financial issues because they simply don't want to face them.
The best route to take is to be pro-active, and seeking assistance with debt management is the first step.
There are many places to go for advice on debt solutions that it makes sense to take immediate advantage of these.
Another issue that has been reported for renters is poor communication with their landlords.
Often there will be issues with the accommodation that the landlord is not taking care of, such as repairs and DIY that needs to be undertaken.
When tenants are forced to pay for these things themselves it creates an even bigger problem for them financially.
Complaints of this nature being made to official bodies increased in 2011 by 26%, portraying a clear need for some kind of regulation for landlords.
In the UK a survey has shown that rents have continued to rise so far in 2012.
When rents rise and people are unable to make their payments they inevitably fall into debt.
When this happens, the best thing to do is to seek help and expert advice on debt solutions available, and in this way individuals can pay off their debt and get their finances back on the right track.
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