During the last six months over a million household bills a month were unpaid
During the last six months over a million household bills a month were unpaid according to research from online financial site moneyexpert.com.
It’s research demonstrates the effects last year’s interest rate rises and increase in fuel costs have affected household budgets, stretching them to their limits.
Council tax bills were most likely to be missed, with approximately one in 20 adults claiming to have paid their council tax late or not at all since June last year.
Around 1.4 million said that they struggled to pay either a gas or electricity bill over the period, and with utility rises over following months, these figures could increase further in to 2008.
Almost another million people failed to pay their telephone bills on time.
Moneyexpert’s Sean Gardner says: “For some time we have been waiting to see how the financial squeeze would affect the average household. Nearly seven million unpaid household bills is a fairly conclusive sign that we are feeling the effects.
Chiltern’s Joanne Gill says: “While it isn’t recommended, paying one bill late isn’t something to lose sleep over. But, if starts to happen on a regular basis then you need to do something about it.
“Missing payments regularly could mean you have your services switched off or end up in court, and with lenders tightening their criteria it could also seriously impair chances of obtaining credit in future.”
The Chiltern website offers lots of handy money saving tips and enables people to find the cheapest energy tariffs available to them and switch simply, often saving hundreds of pounds.
