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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`

‘Catch-up’ energy bills could be costly and inaccurate

22/10/2008

16 million people could be charged post-rise prices for energy they’d used before prices rose by up to 34% this year.

So says industry watchdog Consumer Focus, which estimates that a third of customers will receive estimated bills this quarter.

Those people could end up with an inaccurate ‘catch-up’ bill once the meter is actually read, as the energy provider will not know how much gas and electricity was used before the price rises – and how much was used afterwards.

According to Consumer Focus, consumers should take a meter reading on the day a price rise is imposed, to make sure their bill is correct.

“Whenever prices go up, it’s important to make every effort to avoid being charged the new, higher rate for energy already used,” said a spokesperson for Debt Advisers Direct.

“It’s a particularly important issue this time, as 34% is such a significant increase. Many consumers are struggling to keep up with this year’s price rises, and some are being forced into debt as a result.”

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Debt Advisers Direct offer free debt advice and a range of debt solutions, including debt management plans, debt consolidation and IVAs (Individual Voluntary Arrangements).

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