Households missing essential bill payments ‘back to winter levels’

Some 2.4 million households missed or defaulted on an essential payment – such as a housing, bill, loan or credit card payment – in the month to 13 July, according to Which?.

This is significantly higher than the number who missed essential payments in May and matches the dramatic numbers missing payments last winter, showing that the cost of living crisis is continuing to bite, even in warmer weather when energy costs are lower, the consumer group said.

Of the missed payments, 1.5 million households missed or defaulted on a household bill payment – such as an energy, water or council tax bill, with two-thirds (65%) of those households reporting that they missed more than one payment.

Of those who missed a household bill payment, almost half (49%) missed a water bill, around half (48%) an energy bill, four in 10 (38%) a phone bill and around a third (34%) a council tax payment.

Which? estimates that 770,000 households missed or defaulted on a housing payment in the month to 13 July, with one in 20 renters (5.7%) and 3.4% of mortgage holders failing to make a housing payment.

Rocio Concha, director of policy and advocacy at the organisation, said: “Our research has found that the number of households missing essential payments has risen to 2.4 million showing that though inflation might have peaked, the human cost of the cost of living crisis continues to rise.”

https://press.which.co.uk/whichpressreleases/it-is-not-living-but-just-about-existing-number-of-households-missing-essential-payments-is-back-to-winter-levels-which-warns