Revealed: One in six struggle to pay bills

ONE in six homeowners are struggling to pay their bills, according to research from the Irish Mortgage Corporation.

Also more than a third of credit card holders said they do not clear their balance at the end of each month.

Director of the Irish Mortgage Corporation, Frank Conway said it is a “great concern” that bills are not paid off in full each month. “Recurring credit card balances represent one of the most expensive methods of personal borrowing,” he said. Of those that do not pay off their credit card balance each month, one in three have balances of more than €2,500 each month.