One in seven people fear missing rent or mortgage payments this January due to debt accumulating during 2014.
Research from charity Shelter and YouGov revealed 59 per cent of people in the East Midlands said they were already struggling to keep up with their housing costs.
The charity has seen a surge in the number of people visiting its website for advice on rent and mortgage arrears, and is urging anyone having difficulty meeting their housing costs to get help as early as possible.
Shelter’s helpline adviser Nadeem Khan said: “Every day at Shelter we hear from people who are feeling overwhelmed by mounting rent or mortgage bills, as the increasing pressure of sky high housing costs continues to take its toll.
“Many have spent a long time thinking they have nowhere to turn and are often close to breaking point by the time they come to us. If you’re in this situation, it’s so important to remember you’re not alone and that help is available.”
Shelter is warning that ignoring money worries rather than seeking advice could lead to people’s home being put at risk.
More than a quarter of people in the region said they would feel too ashamed to ask for help if struggling with housing payments.
Ms Khan added: “We all understand how tempting it is to bury your head in the sand, but advice from Shelter is only a click or a phone call away – so get advice early to prevent things from spiralling out of control.”
For free and independent advice from Shelter visit shelter.org.uk or call the helpline on 0808 800 4444