Households Falling Behind on Bills

Posted 2008-01-25

Millions of people found it hard to pay their bills on time in 2007 as household budgets became tighter. With the rising costs of gas and electricity, a study by YouGov for MoneyExpert.com found 1.3 million people who had difficulties paying their energy bills on time.

 

In addition to the 2.3 million people who either failed to pay, or paid their council tax in the second half of last year, nearly 3 million people in the UK also faltered in making their credit card payments. YouGov statisitics provided by MoneySuperMarket.com show that credit card users paid out £35 million in late payment fees.

 

Sean Gardner, Chief Executive of MoneyExpert.com, said, “Paying one bill late is not something to panic about. But if you find this is becoming something of a habit then you need to take action. Missing bills can have serious consequences, whether it’s losing a service altogether or even ending up in court.”

 

The financial advice website cautioned that as the ongoing credit crunch continues into 2008, many people may find themselves falling further behind in paying off bills.

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