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Rent Arrears Fastest-Growing Problem, Says Charity

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http://www.bbc.co.uk/news/business-25338243

Rent arrears are becoming the fastest-growing debt problem in the UK, according to the Money Advice Trust charity.

In the first nine months of this year, its telephone helpline received nearly 20,000 calls from people behind with their rent.

That represents a 37% increase compared with the 2011 figure, the charity said.

More than half the calls to the National Debtline are now from people renting their home.

Can't afford a mortgage, can't afford the rent. Only one solution charge higher prices...

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'A recent survey by LSL property services suggested that rents across the country have risen to an all-time high.'

Hmm, people getting a bit suspicious of LSL's numbers?

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Vested interests will spin this news and blame it on the removal of the extra bedroom subsidy....

You know the one, same some bankers on here refer to as a tax!!

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Vested interests will spin this news and blame it on the removal of the extra bedroom subsidy....

You know the one, same some bankers on here refer to as a tax!!

It will be the Cardboard box tax.

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Not being nasty, but the sooner we see whole families on the street the sooner the much needed state housing will be built.

Not long now, Cameron has made huge progress in that area.

Yes, it is the only way to properly burst the bubble, there will have to be pain and distress first. I bet there are so many people who would just completely give up on "owning" now, after all the financial distress, if decent council houses were available. Getting out from under the debt will be the problem for lots of sheeple though.

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'A recent survey by LSL property services suggested that rents across the country have risen to an all-time high.'

Hmm, people getting a bit suspicious of LSL's numbers?

Yes, I'm very suspicious of the LSL figures. At least the main sales figures are based on real transactions passing through Halifax, Nationwide, the Land Registry, etc. There is no equivalent institution which handles the same breadth and volume of rentals. The rental figures are at best a guess and quite possibly an outright scam.

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Vested interests will spin this news and blame it on the removal of the extra bedroom subsidy....

You know the one, same some bankers on here refer to as a tax!!

Well those vested interests would be right in some degree. The removal of the subsidy is just beginning to push people out - up to now it was just an addition to already hopeless arrears, so pure subsidy arrears have arrived. This is what I'm told by someone who works in that field.

Quite disgusting that someone can be made homeless over £20 a week when the rent seekers are making off with all the wealth.

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From the article:

RENT IS A PRIORITY DEBT

So apparently those who rent are debtors now! I think that's the Beeb saying that our directors multiple BTL mortgages are priority debts and they stand to go bankrupt because you're being inconsiderate by eating and not paying them.

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Yes, it is the only way to properly burst the bubble, there will have to be pain and distress first. I bet there are so many people who would just completely give up on "owning" now, after all the financial distress, if decent council houses were available. Getting out from under the debt will be the problem for lots of sheeple though.

+1 i agree households need to start being rinsed out its the only way, i think the desperate "juggle the credit cards" approach that the clingers on have used to muddle through for the last couple of years has finally caught up with them. Anxious they now hope for some hpi so they can mew to pay down unsecured debts.

Edited by Bringingitdown

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From the article:

RENT IS A PRIORITY DEBT

So apparently those who rent are debtors now! I think that's the Beeb saying that our directors multiple BTL mortgages are priority debts and they stand to go bankrupt because you're being inconsiderate by eating and not paying them.

Haha, yes I saw the irony with that statement too! Rent is only a priority debt for the LL!

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