Debt management ‘an issue’ for four million households

Britons may find themselves with increased debt problems as energy prices look set to soar over the next decade.

This is according to a report from Which?, revealing that by 2020 bills, could climb by more than 35 per cent for badly-insulated houses.

And editor with the company Martyn Hocking noted that the only way to avoid running up larger costs is to use less energy.

“The government must take urgent action to stop bills from spiralling out of control,” he said, adding that people need assistance to ensure their homes are more efficient.

“Millions … will be faced with crippling energy bills in the future,” he warned.

The report also indicated that the annual cost could reach over £2,600 in the next ten years for a three-bedroom semi-detached house.

Furthermore, recent figures from moneysupermarket.com showed that an increasing number of people are in debt to their suppliers, with 1.8 million currently in arrears.

By Sarah Adie