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According to the latest report from The Money Advice Trust, UK households in
financial difficulty are struggling to pay their water bills, with over 10,000
consumers asking for help so far in 2011.
Record numbers of consumers have applied for a Government scheme to cap water
bills, and hundreds of thousands of people are falling into arrears on their
accounts.*
Debt solutions provider, Atlantic Financial Management is urging those
struggling with increased utility bills to seek professional advice and help in
correctly prioritising payments.
Director Kevin Still commented, “There are many different banks, local
authorities, utility companies, insurers and service providers that we are all
required to pay each month, quarter or year, but working out which of these is
the highest priority can be daunting for anyone in financial difficulty.
“The mortgage or rent should be the number one priority along with any secured
loans, closely followed by essential insurances and utility charges. After this
come credit card and other unsecured loan repayments.
"A DEMSA member, such as Atlantic, will not only help prioritise payments but
will liaise directly with the lenders to try and freeze interest and reduce
unsecured repayment amounts to a level that you can afford and to try and avoid
the situation becoming worse.
“A leading debt solution provider will also help those in debt to find any
benefits or grants to which they may be entitled, such as the Government-backed
Watersure programme which caps water and sewerage bills for eligible customers.
"As with all debts it is better to deal with it rather than allow it to get
worse and worse. Anyone in financial difficulty who is struggling to manage
their finances themselves should seek professional assistance as soon as
possible.”
Source:
Getting Paid
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