Unpaid bills increase among people in debt
Unpaid bills increase among people in debt
Wednesday 22nd October 2008
People in debt could be missing their payments after significant hikes in electricity and gas prices drove consumer prices index inflation up to 5.2 per cent this month.
About 1.61 million Britons have missed gas bill payments over the past six months, up from 1.16 million in the previous period, a YouGov poll on behalf of MoneyExpert found.
Missed electricity payments increased from 1.31 million to 1.96 million, meaning 600,000 more bills went unpaid in the last six months compared to the final six months of 2007, the study revealed.
Debt-ridden consumers are also struggling to pay off council tax bills, with the number of missed payments increasing from 2.18 million to 2.58 million, the survey found.
The findings come as Bank of England governor Mervyn King told business leaders in Leeds last night about his concerns over rising unemployment and falling house prices before admitting that the UK economy is now likely to enter into recession.
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