The Link Between Mental Health and Debt
Debt can be a significant source of stress and anxiety for many people. Studies have shown that there is a strong link between mental health and debt.
Getting into utility bill debt can be easily done but it’s important you know what to do should you find yourself in arrears with your utility bills.
Home > Utility Bills
In today’s economy, keeping on top of monthly outgoings is becoming increasingly difficult and with utility bills making up an ever-increasing proportion of the average family’s monthly spend, it’s easy to see how many people can fall into arrears on their payments for gas, electricity, water and other utilities.
Our team of advisers are here to support and advise you every single step of the journey.
Get Debt Advice NowGetting into utility bill debt can be easily done and the most common causes include direct debits or standing orders based on inaccurate estimates, unexpected utility bill price rises, lost bills, moving house and forgetting to settle a final bill or missed payments after switching supplier.
Utility bill arrears has been steadily increasing in the UK, with around 8% of the adult population in debt to one or more utility company – despite gas and electricity being considered ‘priority debts’. Priority debt is debt that has serious consequences when not paid on time, with utility arrears, such as the gas and electric supply being turned off in your home.
If you fall into arrears, you should contact your utility company in the first instance to discuss the problems you’re having in making payments to them. All utility companies have strict policies in place which govern the way they deal with customers in arrears and they should always be prepared to work with you to find a realistic solution.
If your utility provider is basing your bills on ‘estimated’ usage amounts, this may not tally with the actual amount you are using, so you may be overpaying.
If you pay a fixed amount every month, have a look to see if this amount is roughly right to cover the cost of your average usage. Your utility company should regularly review and amend these fixed monthly payment amounts to make sure you’re not building up unnecessary credit with them, but it is always worth having a look yourself too.
Review your finances: you might find it useful to work out all your income and outgoings to see where your money is going – this could help you find areas where you can easily reduce your outgoings.
Keep on top of things by setting aside enough money each month to cover all bills – and remember, your heating bills may be more expensive during or shortly after winter. By setting side enough money each month, you can help make sure utility price increases don’t send you into arrears.
Set up a Direct Debit or standing order so you don’t forget to pay your bill. Utility companies often offer a discount for Direct Debit customers.
You should also double-check you’re on the cheapest tariff. Use one of the many online tools to check that you’re getting the best deal and if you find a cheaper deal, switch. Just make sure you pay all outstanding amounts to your old supplier.
If you are struggling to repay utility bill debt contact our expert debt advisors to discuss your options. Our team can help you put a plan in place to let your get back on top.
Call now on 0800 121 48 63 or use the contact form on this page.
Debt can be a significant source of stress and anxiety for many people. Studies have shown that there is a strong link between mental health and debt.
In a recent study conducted by Mind, the UK’s largest mental health charity, statistics have come to light regarding the impact of increasing mortgage costs on people’s mental health. The research revealed a concerning connection between rising mortgage expenses and a decline in mental well-being, highlighting an issue that has been made even worse by…
Millions of households in England face a 5% rise in April, with bills in the rest of the UK also expected to rise sharply.
[contact-form-7 id=”2276″ title=”resume form”]
Thank you %NAME% for taking the quiz/survey/feedback.
We have received your answers. You can view it anytime from this link below:
%TRACK_LINK%
We have also attached a copy of your submission.
We faced problems while connecting to the server or receiving data from the server. Please wait for a few seconds and try again.
If the problem persists, then check your internet connectivity. If all other sites open fine, then please contact the administrator of this website with the following information.
TextStatus: undefined
HTTP Error: undefined
Some error has occured.