Millions face arrears with energy firms
Millions of Britons could fall into arrears with their energy provider this year, it has been claimed. According to uSwitch.com, the price increases imposed by suppliers have not yet been reflected in the charges paid by customers who use direct debit to pay their bills. This is because providers have to wait until they have reviewed the account before raising the debit level. However, as a result of this millions of Britons could be underpaying on their bills and could face a hefty bill later on. Ann Robinson, director of consumer policy at the site, said: "Getting bills right becomes even more critical at a time of rising prices as there is a greater chance of customers being pushed into debt. "I would urge suppliers to make debt avoidance a priority - give consumers an idea of how much more they could potentially be paying, warn them of the dangers of underpaying and advise those who are near or already in the red to get in contact immediately about increasing their monthly payments."uSwitch.com calculates that 6.8 million consumers are already in debt to their provider.
Share this..
Related stories
Is Barclays bank on the verge of another disposal?
In a move which has surprised many people in the City, it has been revealed that Barclays bank could be on the verge of selling its asset management arm, Barclays Global Investors (BGI), in order to raise more money. It is understood that the recent sale of iShares to CVC capital partners may also offer the company the chance to bid for the whole BGI subsidiary. The BGI operation is valued at arou...
Read MoreBrits heading for mortgage woes in retirement
Homeowners nearing retirement owe a combined £207 billion in mortgage debt, according to a new study.Research by Key Retirement Solutions (KRS) shows that on average people aged over 55 still have £37,316 left to pay off on their mortgage, which represents a 20 per cent year on year increase.The data, extrapolated from 4,507 elderly individuals who released equity in their home with KRS last yea...
Read MoreDo UK banks dictate your finances?
In years gone by there was major competition on the UK high street with regards to financial services and banking facilities although today the UK sector is dominated by a relatively small band of companies. As a consequence, there is a growing belief that consumers in the UK have lost part of their power to make changes in the UK financial sector and indeed UK banks are actually dictating the fin...
Read MoreNorthumbrian Water Issues Alert to Customers
While their charges are fixed until 2010 due to an agreement with OFWAT it seems that many customers of Northumbrian Water will see a sharp rise in their bills once the agreement runs out. The company has issued a statement confirming a major rise in energy costs and the need to make substantial investment into a number of areas, including flood prevention.
This is yet another blow...
Lloyds bank confirms 95% take-up of rights issue shares
Lloyds bank has today confirmed that 95% of the new shares on offer in the £13.5 billion record-breaking rights issue have been taken up by existing shareholders. This leaves a relatively small amount of shares to be placed with institutional shareholders and allows the company to move on to stage two of its financial restructuring which will see a further £9 billion injection for the company's...
Read More