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Unpaid bills mount as debt problems hit
10 January 2008
The debt problems of British consumers are reaching breaking point after new research showed the number of unpaid bills has reached record levels.
A study by MoneyExpert found that as many as 6.9 million household bills went unpaid across the UK since June last year, as finances became increasingly stretched.
Around one in twenty British adults have paid their council tax late or not at all in the last six months, the research found. At least 1.3 million Brits struggled to pay a gas or electricity bill on time during the last six months.
Sean Gardner, chief executive of MoneyExpert, said: "For some time we have been waiting to see how the financial squeeze would affect the average household. Nearly seven million unpaid household bills is a fairly conclusive sign that we are feeling the effects.
"Paying one bill late is not something to panic about. But if you find this is becoming something of a habit then you need to take action."
According to Credit Action, the average UK adult owed £8,956 in loans, overdrafts and bills.
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