Homeowners using credit cards to make ends meet

Struggling homeowners are using credit cards to make ends meet every month while 40% of households have had to borrow money over the past year to pay their bills.

The shock findings are contained in the second Irish League of Credit Unions (ILCU) What’s Left tracker survey, which shows disposable income in many homes has dwindled significantly as the full impact of the recession takes hold.

It has found more than 1.8m people are left with €100 or less each month after bills are paid. In addition, on average, households owe €1,000 on their credit card, and one-quarter of all credit card holders rely on that credit to make ends meet every month.