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Tenants 'vulnerable to unmanageable loan claims'

Tenants in the private rented sector could be particularly susceptible to making unaffordable loan claims or incurring serious bank charges.

Figures from National Debtline revealed that more than 50 per cent of all calls to the charity are from renters, representing the first time that this has occurred.

Furthermore,since 2007, there has been a 99 per cent rise in the number of people contacting the organisation who are in rent arrears,  with almost 12,000 people getting in touch with the group because of this problem between January and August 2012.

Chief executive of the Money Advice Trust Joanna Elson said: "Rising rent prices are not only making it harder for people to save for a deposit, they're also pushing more people in debt."

She claimed sharp increases in the cost of a tenancy can force people and families "over the edge" and into unmanageable debts.

Growing demand and limited supply are pushing average rents up, the specialist pointed out.

Amir Hussain
Amir specialises in personal loans, consumer debt and debt managementADNFCR-2776-ID-801471683-ADNFCR

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