New research from @Money_Advice on energy debt makes for worrying reading
The average amount owed in energy arrears has risen by £419 to £1541.
Targeted support is needed for the people who have faced difficulty paying energy bills and have fallen behind on their payments.
Inflation levels have remained at 2%, but an estimated 11.4 million people are in seeing their financial situation worsen – our response to the latest @ONS inflation figures.
➡️https://t.co/2HlwNgHSt7
Our latest @Money_Advice report sets out how inflation impacts our clients. And it's grim, esp for renters and single-adult hhs: more face deficit budgets, w a 21% increase in av value of rent and energy arrears since last yr. But a new govt presents a new chance for change....
Our new report explores the impact of high costs on the people we help at @natdebtline and @biz_debtline and action needed from the new Government to help people experiencing problem debt. #BrokenBudgets
➡️https://t.co/tWbjfndztr
Great read! It's important that this govt act on tackling debt and growth in tandem. We've seen debt fueled growth in the past - and while that might boost growth figures, it's not in anyone's interests long term.
Dennis Hussey from our @natdebtline on @BBCRadio4#YouAndYours talking about Debt Relief Orders and the changes that have come into improve access for people with low incomes and unmanageable debts.
📻Listen from 1 minute in.
https://t.co/gCpzvlfLo0
Latest figures from @Ofgem show energy arrears have broken record levels again – a Help to Repay scheme is urgently needed to help people dealing with unaffordable arrears. Read our full response 👇
https://t.co/31KzK7JbnD
🧵1/2 Debt Relief Orders can provide a lifeline to people with unmanageable debts, and further changes to eligibility rules tomorrow will give more people access to them⬇️
Small businesses are still facing many challenges as a result of the Covid pandemic. Our director of external affairs @JaneTuls is quoted in the @Guardian on what we see at @biz_debtline.
https://t.co/fF5HUistHa
“We know that deductions cause significant hardship” – our Acting Deputy Chief Exec @JaneTuls at @CommonsWorkPen session on the impact of deductions from benefits on callers to @natdebtline and @Biz_Debtline.
After 17 years at the @Money_Advice Trust, @JoannaElson will be stepping down in September to join @IndependentAge as chief executive. Read more, including from our incoming Chair of Trustees Christine Farnish CBE 👇
https://t.co/byLln7CmZM
💡In case you missed it – our director of external affairs @JaneTuls discusses our findings on the impact of the high cost of living on callers to @natdebtline and @Biz_Debtline in the latest blog post for #ThoughtsAtTheTrust
👉https://t.co/mQcNlP0G4c
Since March 2022, we've been tracking the impact of the cost of living on UK households – our latest report highlights the need for urgent support to help the millions of households struggling with arrears access safe routes out of debt. #UnderPressure
👉https://t.co/no9dHPdZu5
“Storm clouds building” as the @bankofengland raises interest rates to 4.25% on the back of rising inflation - our chief exec @JoannaElson on what this means for struggling households.
➡️https://t.co/ipFR6dEmmb
Consumer protection should be at the front and centre of decisions on reform, and vital consumer rights must be retained – our response to @HMTreasury’s consultation on proposals for reforming the Consumer Credit Act.
➡️https://t.co/G6hsJvuVi4
Certainty on energy bills, but ‘damage already done’ for many households – our chief exec @JoannaElson on the Chancellor's Spring #Budget2023
➡️https://t.co/B83yb8EXGP
We’ve joined 50+ organisations and charities in supporting @MoneySavingExp call for the Government to postpone the planned rise in energy bills in April