Jan
10
2011
Umbrella company contractors: People 'frightened' to talk about debt
Posted by Sarah Putt
People who are suffering from debt problems keep the issue to themselves, because they are fearful of the consequences, company umbrella contractors have been told.
Catherine Hearnden, director at MyMortgageDirect, believes that people who are finding it difficult to pay their mortgage are particularly frightened.
This is because of the stories which circulate about people losing their homes, with those in a similar situation scared that they may be the next subject of talk, she suggested.
As a result, Ms Hearnden noted: "A lot of people bury their heads in the sand and think that if they don't say anything then the lender won't notice."
Meanwhile, the expert described the recent rise in credit cards to aid mortgage and rent payments as "very concerning".
Those with umbrella companies may be surprised to hear that, according to a YouGov poll for Shelter, two million individuals have settled their mortgage or rent with plastic, almost doubling the total in a year.
People who are suffering from debt problems keep the issue to themselves, because they are fearful of the consequences, company umbrella contractors have been told.
Catherine Hearnden, director at MyMortgageDirect, believes that people who are finding it difficult to pay their mortgage are particularly frightened.
This is because of the stories which circulate about people losing their homes, with those in a similar situation scared that they may be the next subject of talk, she suggested.
As a result, Ms Hearnden noted: "A lot of people bury their heads in the sand and think that if they don't say anything then the lender won't notice."
Meanwhile, the expert described the recent rise in credit cards to aid mortgage and rent payments as "very concerning".
Those with umbrella companies may be surprised to hear that, according to a YouGov poll for Shelter, two million individuals have settled their mortgage or rent with plastic, almost doubling the total in a year.