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16% jump in average energy debt

Posted in IVA News on 29th March 2010.

Research from uSwitch.com has shown that despite a fall in the number of households in debt to their energy suppliers, the average energy debt is 16% higher than it was in 2008, headlinemoney.co.uk reports.

An estimated £728m is now owed by consumers on their energy bills, with 5.5m households now in debt to their energy providers. The average debt owed today is £132 – 5% higher than the £126 seen last year and 16% higher than the average amount households owed in 2008 (£114).

An IVA expert for the IVA Forum said: “At a time like now, it can be difficult to keep on top of household expenses, including energy bills.

“We would advise anyone, particularly people who also have other debts, to speak to their provider and try to work out a repayment plan that suits their financial situation. They could also speak to a professional debt adviser, who may be able to offer them some tips on how to repay the money they owe.”

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