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PPI Claim: People are 'struggling to meet payments'

PPI refunds could be significant as a new study has found more people in the UK are not able to pay their rent.

The research from the National Debtline charity revealed an 84 per cent increase in the number of calls it received from people finding themselves in rent arrears since the start of the financial crisis in 2007.

Joanna Elson, chief executive of the Money Advice Trust, which runs the helpline, said: "It is clear high rent costs are becoming more and more difficult for people to meet."

Ms Elson believes the economic situation is worsening as a few years ago many renters would be saving for their first home, but now they are finding it difficult to make rent payments.

According to the expert, the problem is more widespread because people are cutting back everywhere to ensure money for payments is found.

The Financial Services Authority revealed that PPI providers have paid out a total of £215 million this year in compensation to people who were mis-sold PPI.

Charles Baker

Charles is a reputed financial analyst with decades of experience under his belt.ADNFCR-2776-ID-800744023-ADNFCR

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