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According to figures from National Debtline, which is one of the UK’s leading finance charities, the number of people calling their helpline about rent arrears has increased by more than 150% in the last seven years. In 2007, the charity received around 8,000 telephone calls from concerned tenants. This
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has increased to 20,000 if the latest figures are to be believed. In fact the number of calls from worried tenants who owe money to their landlords has risen by 13% in the last year, which indicates an increasing number of tenants are struggling to pay their bills.
Rent Debt Crisis
“The long-term trend for rising rent prices is clear and its impact on the debt landscape is significant. Rent arrears are now the fastest growing debt problem we help people with and we are in danger of falling into a rent debt crisis,” says the Money Advice Trust.
Rent arrears are not the only problem highlighted by calls to the debt charity. Many tenants are in debt crisis generally, which means they may owe money to banks, credit card companies, loan companies, utility companies and other creditors.
Landlords Advice for Rent Arrears
The charity says tenants who can’t pay their rent should seek advice as soon as possible before they face being evicted by their landlord. The charity is also keen to remind landlords that if they are experiencing financial problems because a tenant has fallen into rent arrears, they can also get lots of free advice from the Business Debtline.
