Getting to grips with your utilities debts

October 10, 2014

Utility debts are a growing concern in Scotland and throughout the rest of the UK and much of Europe. A major cause of concerns in this area has been the consistent and often rapid rise of prices associated with energy supplies.

In recent years, most people in Scotland have seen their bills for electricity and gas in particular rising at a rate well above inflation. These increases have added to the pressure on domestic finances in thousands of households around the country and for many the end result has been having extra personal debts to worry about.

Changing your utility supplier

One step that anyone struggling with utility bill debts should investigate right away is the option of switching the supplier of these services. There is a good chance that there will be an energy, water or internet supply deal out there that saves you money over the course of each year. You can find out how and how much money you might save by visiting a price comparison website, some of which, like uSwitch, are designed primarily to help people find cheaper energy and broadband deals.

Budget

Whether or not you’re able to find less expensive utility supply deals, there is a likelihood that your associated bills will still account for a sizeable portion of your outgoing each month if you’re struggling with personal debts. Unfortunately, this is now unavoidable for most of us as energy prices continue to rise.

What you can do to help improve matters though is to review your finances and try to find ways of cutting down on your expenditure. This isn’t always easy but it can be well worth making sacrifices to pay off utility debts sooner rather than later.

Communicate

Changing your energy supplier and budgeting more effectively might save you money in the longer term but if your utility debts are already causing financial problems then you should get in contact with your supplier to communicate your issues right away. The sooner you are able to establish a repayment plan, the easier it will be to see your utility debt problems resolved.

If you don’t get in contact with a utilities provider that you owe sizeable sums of money to, then you’ll run the risk of seeing your supplies of essential services cut off and of seeing your debts passed on to debt collectors. At this point it also becomes more difficult to negotiate with your creditors and to establish a plan for paying back the money you owe.

Get help

If you are worried that you cannot afford to pay off your utility debts then it could be that you have more serious underlying personal finance and debt management issues. Where this is the case, it is important to get advice and support in tackling these problems and finding a more sustainable way forward.

We at Scotland Debt Solutions can help you tackle your debt problems, however serious they are and whatever the primary cause of your financial concerns may be. Debts to utility companies can easily build up and come to be a major financial burden but with the right approach there are always options available to help you leave the worst of these concerns behind.

You can call Scotland Debt Solutions directly to find out more or to arrange a free and confidential consultation.

John Baird

Insolvency Adviser

Tel: 0800 063 9250

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