Bills a struggle?

One in eight Britons struggle to pay bills on time according to a new study.

With energy and food prices forever on the up, the pressure on household budgets has led many to turn to credit cards to cover crucial payments, the research found.

Insolvency company R3 found that the amount of people unable to pay their bills on time has doubled from last summer to an astronomical six million.

The survey also found that a total of eight million Brits will use their overdraft facility this month. Frances Coulson, R3 President, said: 'These figures make for worrying reading. It is clear that many have found themselves in a position whereby they have to go into and often exceed their agreed overdraft in order to keep on top of their bills and debt repayments.

'Unfortunately, more often than not this leads to bank charges, which further deplete the amount available for bills. It's a catch-22 situation which can result in debts snowballing.'

United Kingdom - Excite Network Copyright ©1995 - 2021