Energy bills still a cause for concern for many
By Mr Bankruptcy
30th August 2023
With autumn on the horizon many business operators and homeowners will begin thinking about how their use of energy will increase as the heating is turned back on and the lights burn for longer as the nights draw in.
The financial challenge that increased energy bills caused last winter are still on the minds of many of us and it’s not surprising that the BBC has recently reported a rising number seek support for energy bill debts.
Paying energy bills continues to be a struggle
As reported by the BBC, Citizens Advice has seen in the first six months of 2023 a 17% increase in the number of people contacting them with energy debts compared to the same period last year. They also noticed that the average debt of those people contacting them was £1,711, which is up a third on 2019 figures.
Before winter has even started, many people are already behind on repaying their energy bills, along with other rising costs, such as food. Citizens Advice say that 12% of the people it surveyed have resorted to loans or credit cards to pay their energy bills.
Ofcom has announced a fall in the energy price cap from this October, but the average annual gas and electricity bills for households remain higher than they have been historically. The fear is that, with growing debts and increased energy usage over the coming months, for many there will be little relief from debt on the horizon.
What can you do to help manage your debt?
With any debt, it is important to contact your creditors to make them aware of your situation. As difficult as that conversation may seem, seeking support and advice is often the first step on the journey to clearing that debt.
In our blog we offer support and advice to individuals and businesses to help them with a range of debt issues. If you’re struggling with debt, we hope that these examples of some of the support and information we share on our blog will help you to see a way forward and encourage you to seek further support if needed:
- Coping with the rise and rise in the cost of living
- Create a budget that works for you
- How to use your credit card and credit wisely
- The important of managing finance related stress
- How to prevent creditors knocking at your door
About James Rosa Associates
James Rosa associates is a firm of debt advisors and debt adjustors. With a supportive and friendly approach, we offer a wide range of advice and professional services to individuals and business owners/directors who are facing unmanageable debt or who are involved in civil or commercial disputes. Our services include:
We are authorised and regulated by the Financial Conduct Authority (FRN665061) to work with clients to produce bespoke solutions to fit their specific circumstances.
Do you qualify for one of our free consultations
If you want to deal with an unmanageable debt, or bring a dispute to a swift and cost-effective resolution, contact James Rosa Associates, ring 0845 6807217 or email enquiries@jamesrosa.co.uk to find out whether you qualify for a free consultation.
Please be advised that all views expressed in these posts are those of the author and not of James Rosa Associates ltd.