Social Housing Survey Shows Debt Ridden Tenants May Avoid Eviction If Seeking Debt Management Advice
A social housing report issued at end of 2011 showed social housing evictions in the Up could drop if debt ridden tenants seek professional debt help. debt advice online Seven leading UK housing associations were responsible for issuing report findings, associations included: the Hyde Group, Affinity Sutton, Wandle and AmicusHorizon amongst three other leading associations. It was found that specialist debt advice, given in the early stages of financial problems, could save thousands of pounds in rent arrears and could also prevent around 7,000 evictions from social housing each year. debt management programShould evictions be prevented by these means it would also mean that housing associations may save approximately 8,000 per tenant(s) per year which is money that could fund 2,000 new builds. Should social housing tenants have access to proper debt management advice there are huge benefits to landlords. Around 71 per cent of tenants were able to reduce their rent arrears by an average of £360 per eviction once they had sought debt management help.
The chief executive of the Hyde Group, Steve White, said: “Now is the time to invest in debt advice, and this report describes exactly how this can be achieved: by providing our residents with the financial confidence and knowledge to enable them to stabilise their financial situation. “The timing of this report couldn’t be better, with the introduction of universal credit; social housing tenants will need to manage their finances more independently than ever before.” debt consolidation uk Therefore, it is believed that those who are struggling with pressing debt issues will find the recent survey results extremely encouraging and will be more inclined to seek professional debt management advice. In turn this is expected to have a positive impact on the current figures relating to the number of evictions being experienced within the UK’s social housing sector.
