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Government warns about rising credit card debt Debt - the 12-month view Amount of `bad debt` written off reaches 16-year high Deeper into debt: middle-class poverty Debt taken on by individuals increased in January Debt Relief Order (DRO) rules may be changed Overdrafts: five million Britons `permanently` in debt Mortgage lending drops to decade low The cost of debt falls Two thirds hope to have cleared mortgage debt by 50 40% of people approaching retirement `saddled with debt` Repossession `may be best` for homeowners struggling with debt Bankruptcies in Scotland - the worst may be yet to come Good news for people with energy debts US: new law provides debt-free date More debt taken on than repaid in December Savings rise as consumers pay down debt Household debt `could trigger another downturn` More families could fall into debt with energy companies Recession ends

Energy suppliers biggest profits from poor

20/11/2008

Consumer Focus, the new consumer watchdog, has claimed that energy companies are making their biggest profits from poor customers with pre-payment meters.

The watchdog estimates that energy suppliers are making over half a billion pounds in extra charges from such customers.

It also says that around 1,000 pre-payment meters are being installed every day in the homes of customers who have fallen into debt on their energy bills.

According to the BBC, energy regulator Ofgem is putting pressure on energy companies to cut their pre-payment tariffs.

A spokesperson for Debt Advisers Direct said: “It’s an unfortunate fact for people in debt that energy through pre-payment meters can cost more than through typical mains gas or electricity connections. Although they can help households to budget, the added cost is something that needs to be taken into consideration – especially by those who have previously been pushed into debt by their bills.

“Some households are not given the choice once they have fallen into debt, though – and those people may feel it is unfair that heating their home becomes more expensive. They will hope that this announcement from Consumer Focus could encourage energy companies to reduce their pre-payment prices.”

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Debt Advisers Direct offer free debt advice and a range of debt solutions, including debt management plans, debt consolidation loans and IVAs (Individual Voluntary Arrangements).

Government warns about rising credit card debt 05/03/2010 - The latest figures from the Bank of England (BoE) have Debt - the 12-month view 04/03/2010 - In January, UK citizens - between them - borrowed £500 Amount of `bad debt` written off reaches 16-year high 03/03/2010 - The latest figures from the Bank of England (BoE) suggest Deeper into debt: middle-class poverty 02/03/2010 - The recession has also affected a lot of people with