Home > News > Debt advice

More than 4 million fear they`ll be made redundant Consumers took on more mortgage debt in July Debts called in by parents Teenagers `scared of debt` Rising household costs could pressure people in debt Pensions debt may impact workers` retirement funds Welsh young adults `at highest risk of debt problems` Over 50s can`t afford to enjoy retirement because of debts Budget: tackling the nation`s debt Short-term debt: `no need for price control` The cost of clearing debt Education debt Tackling the national debt Number of mortgage deals on offer exceeds 3,000 Almost 5 million take on debt to pay household bills OECD: household debt more than 120% of disposable income Petrol price falls help people in debt Amount of mortgage debt taken on at lowest level in ten years Northern Ireland sees significant IVA rise Overdraft debt `becoming more expensive`

‘10% pushed into debt’ due to energy prices

16/09/2008

One in ten households will be pushed into debt due to rising energy prices and the threat of fuel poverty, experts have warned.

According to the Press Association, the National Housing Federation said the rapidly rising prices would force lower-income families to choose whether to eat or to stay warm this winter.

According to the federation, the average combined annual gas and electricity bill will have risen from £676 in 2005 to an expected £1,406 in 2009. A spokesperson commented that many poorer customers simply wouldn’t be able to afford such sharp rises.

The group predicts that 1.5 million electricity customers will be in debt by the end of 2009, a rise of 150,000 people, while the number of gas customers in debt will jump by 140,000 to 1.1 million people.

The news follows the federation’s previous prediction that 23% of the population will be in fuel poverty by the end of next year – meaning that more than 10% of their income will be spent on energy bills.

---

Debt Advisers Direct offer a wide range of debt solutions, including debt consolidation, debt management plans and Individual Voluntary Arrangements (IVAs). If you think you might be falling into debt, contact one of our expert debt advisers.

More than 4 million fear they`ll be made redundant 16/12/2010 - According to R3`s quarterly personal debt tracker, more than 4 Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according