Millions use payday loans to cover mortgage and rental costs | Money | guardian.co.uk
Almost a million people have turned to a high cost payday loan to cover their mortgage or rent in the past year, the homelessness charity Shelter has claimed.
A further 6 million have used other types of credit, including unauthorised overdrafts, other loans or credit cards, to help pay their housing costs, it said.
Shelter said the research, based on a survey of more than 4,000 people, revealed a "spiral of debt that people are falling into in order to keep a roof over their head", and urged struggling borrowers to take advice urgently.
Payday loans are small, unsecured loans marketed as a way for people to tide themselves over until their next pay packet. ....
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