One in four people in the East of England have missed payments on vital bills this year
Credit card repayments and utilities were the most common type that went unpaid
Last updated 6th Nov 2023
Almost 1.5 million people in the East of England - one in four people - have missed payments on key household bills this year according to new research.
The data, collected for Talk Money Week 2023, also shows over 200,000 did so for the first time.
A survey of 283 adults, commissioned by the Money and Pensions Service (MaPS), shows that one in four people (29%) have missed at least one payment in 2023.
Of those, 15% said it was the first year this had ever happened.
The data is being released to mark this year’s Talk Money Week (November 6-10), run by MaPS, which is aiming to inspire people to “do one thing” that improves their financial wellbeing.
What's the most common type of unpaid bill?
Credit card repayments and utilities were the most common type that went unpaid (both 11%), followed Council Tax or rates (9%) and bank overdrafts or loans (6%).
One in 20 had missed a rent (5%) or a mortgage payment (4%).
Among those who’d missed one before 2023, utilities were the most common (33%). Credit card repayments (28%), Council Tax or rates (23%), bank overdraft or loans (20%), rent and mortgage payments (17% and 18%) were not far behind.
"Act now"
Now, MaPS is asking people to “act now” if they’re struggling to make payments.
If you're about to miss a payment, the organisation recommends speaking to your creditor, who may be able to offer a better tariff, a more flexible payment arrangement or contact with a charity who can help.
MaPS says they also have a responsibility to treat you fairly by offering affordable options.
However, the figures also show only two thirds of people (66%) would actually talk to their creditor and in fact, one in six people (17%) would do nothing if they were heading for trouble.
Asked why they wouldn’t let their creditor know, a fifth (20%) said they’d feel too embarrassed or ashamed.
Having to disclose something they weren’t willing to (18%) and worrying it would have a negative impact on their relationship with the company (18%) were the other main reasons.
“It can be difficult to take that first step, but it can make a massive difference"
For people who’ve already missed payments, MaPS says they should consider taking free debt advice as soon as possible, but just a third of people (35%) said they would speak to an organisation offering free help or debt advice if they thought they were going to miss a payment.
Most preferred to cut back on essentials (65%), while others would speak to family and friends (36%). One in four (24%) said they’d take out more credit to meet the cost.
Alan Nicholls, East of England Regional Manager at the Money and Pensions Service, said:
“It’s no secret that people are struggling this year and as these results suggest, many household budgets in the East of England are becoming severely stretched.
"However, some people wouldn’t take any action at all if they started to struggle and this could push them into the trap of long-term problem debt.
“This Talk Money Week, we’re asking people who are struggling with payments to “do one thing” and act fast.
"If you’re going to miss a payment, speak to your creditor in advance and if it’s already happened, consider getting free debt advice.
"Acting now will give you the chance to manage the situation, find a way forward and avoid the devastation that debt can cause.
“It can be difficult to take that first step, but it can make a massive difference."