Earlier this week,Martin Lewis told the UK government to help millions of households across the country cope with rising energy prices, following the UK's latest projections. I urged you to take action now to Cornwall insight that price cap will reach £4,266 by January. He described the upcoming rise as a "national crisis" on par with the coronavirus pandemic, saying millions of households would not be able to afford it.
MoneySavingEcpert The founder of .com said he can make decisions now to help people despite the Conservative leadership contest. The finance guru explained how he's been paying £100 a month by direct debit since October 1, but will increase to £181, jumping to £215 from January.
However, from October he has nearly 100,000 signed up for a new campaign to refuse to pay utility bills. The 'Don't Pay UK' group wants to take steps to bring costs down to affordable levels by October 1st. Otherwise, direct rubbish mass cancellations are planned across the country if the campaign receives one million signatures of support.
But before jumping on the bandwagon, it's worth keeping in mind the ramifications of not paying your utility bills.
But Tarra Flynn, a personal finance expert and co-founder of the energy comparison website Choosewisely.co.uk, canceled direct debits and made a prudent decision. We share the harsh reality of letting go. Please don't pay the bill.
Unpaid utility bills can lead to county court judgment (CCJ). This judgment will be recorded and will appear on your credit report. If he does not pay the outstanding amount from CCJ within 30 days, the amount will remain on his credit report for 6 years.
Tara explains: We understand that sometimes you have to be radical in order to make a difference.
"If you don't pay your bills for months and ignore all requests for payment from your energy provider, your provider may issue a CCJ. Your CCJ will remain on your record and appear on your credit.
“If you don't repay your CCJ within 30 days of receiving it, it will remain on your credit report for six years.
Tara suggested that for many the only solution might be to borrow more.
She said: 't Pay The UK campaign could make things even more difficult for the very people it is trying to help.
If you are concerned about your electricity bill, please contact your supplier first to see if they can help.
A total of £1,200 of living expenses will be paid to millions of low-income, vulnerable and pensioner families this year to offset the crisis, despite the UK government's support package. If you don't qualify for either, you may be eligible for crisis grants from your local council - Learn More
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