Helping consumers in debt. Worried about energy debts? Recent energy price rises, along with other rising costs and falling incomes, have left many people.

Slides:



Advertisements
Similar presentations
Energy Best Deal Gas and electricity prices are rising but there are ways to cut the cost of your energy bills. Make sure you’re getting the best energy.
Advertisements

Regional consumer spending outlook & market opportunity The near future.
Fuel poverty Energy Policy into Practice: slides for advisers.
Promoting sustainable energy policy and practice
Introduction to Business & marketing
The case for work-life balance Julie Mellor Chair Equal Opportunities Commission CWU, 14 December 2005.
Student Fees and Financial Support. Student Fees & Financial Support Student fees and financial support can be broken down into three main areas: Tuition.
Your rights Credit. Your rights Truth in Lending Act (1968) Ensures consumers are fully informed about cost and conditions of borrowing. Fair Credit Reporting.
Teens 2 lesson seven understanding credit presentation slides 04/09.
Credit and Its Use.
Applying for Credit Chapter 26.1.
Student Fees and Financial Support Vicki Carver
Copyright Big Energy Saving Network 2013 Session objectives To explain:  payment and tariff options  fuel bills and the annual statement  how to switch.
Identifying and referring residents in fuel poverty and/or at risk of ill- health due to living in a cold home Nigel Farren Energise London CIC.
Presentation to CBNZ – August 2009 Things the banks don’t want your clients to know.
Grade 12 Family Studies. B6I.
The Green Deal and Energy Company Obligation (ECO) June 2011.
Financial Fitness Senior Seminar Agenda Student Loans Credit Cards Credit Report/Score Budgeting Insurance Saving and Investing.
Too Many Hurdles: Information and advice barriers in energy services – Response to Recommendations Presented by Amanda Nolan 20 th July 2011.
Sally, Stewart and their parents are moving to Australia. They need to sell their house quickly. In November 2005 they bought it for £ Do you think.
August Energy Best Deal Gas and electricity prices have risen but there are still ways to cut the cost of your energy bills Developments in the.
Happy Friday! 11/22/13 Today’s Agenda: If time: Moneypower.org quiz
Affordable credit: what can the UK learn from other countries? Marie Burton, Consumer Focus Dr Chris Deeming, PFRC, Bristol.
Credit Fundamentals 18-1.
Chapter 4 “going into debt”
Back to Table of Contents pp Chapter 25 What Is Credit?
Choosing the right deal for you Dual fuel Getting your gas and electricity from the same supplier Many suppliers offer a discount if you opt for dual fuel.
Cost of Credit Ch. 7.4 Banking Services. U.S. Economy Runs on Credit Credit is the foundation of banking income.
Student Fees and Financial Support. Student Fees & Financial Support Student fees and financial support can be broken down into three main areas: Tuition.
Understand credit management 1. 2  What is credit? Credit is the privilege of using someone else’s money for a period of time.  Who uses credit? ◦
Money Matters Spring 2015 $$$$$$$$$$$$$$$$. True or False – – Using a credit card is a lot easier than paying cash – Credit cards are a great way to buy.
Unit 1.5 Understanding the Economic Context. Starter … As an adult, if you were out in town and you had no money to pay for your taxi home, what could.
BUSS2.2 Improving Cash Flow Finance Improving Cash Flow Cash Flow This unit follows on from the study of cash flow in Unit 1- Using Cash Flow Forecasting.
This is a template only and you must ensure that your compliance department have approved it for your use, before you present it.
Tackling fuel poverty in rural areas What can be done? Kath McDaid NEA Regional Co-ordinator Yorkshire & Humber Region.
Chapter 25 pp What Is Credit?.
The Basics of Credit Objective: To explain the concept of consumer credit, including major types and their benefits/drawbacks.
 the ability to borrow money in return for the promise of REPAYMENT  Before using credit you should ask your self:  Is it a want or a need?  Do you.
Credit. What is it? – the ability of a customer to buy goods or services before paying for them, based on an agreement to pay later. Always investigate.
Cutting your energy bills by making your home more energy efficient Energy suppliers are obliged by the government to offer you help in doing this So contact.
Energy Best Deal Gas and electricity prices are rising but there are ways to cut the cost of your energy bills: Make sure you’re getting the best energy.
Public attitudes towards housing benefit and planning reform Results from Ipsos MORI Omnibus Survey May 2011.
Slide Equity release is the process whereby the property equity is turned into cash, which can then be spent on whatever you like. There are two main.
Budgeting and Financial Planning Why should people make a plan for how to get and spend money? What strategies can be used to do this most effectively?
Using Credit SSEPF4.a, SSEPF4.b, SSEPF4.c. Loans and Credit Cards: Buy Now, Pay Later The U.S. economy runs on credit. Credit – The ability to obtain.
HOW TO GET AND KEEP CREDIT. PICKING A CREDIT CARD You will have to fill out an application. It will ask about where you live, where you work, what other.
UNIT FIVE. CREDIT: BUY NOW, PAY LATER. Coming soon to a mailbox near you: Credit Card offers.
How do I know if I need to switch supplier?. What information do I need to know before I can compare energy prices? My usage (kWh) and costs (£) for energy.
Student Fees and Financial Support. Student Fees & Financial Support Student fees and financial support can be broken down into three main areas: Tuition.
Age UK Energy Advisor Pilot Help older people stay warm and well this winter.
FUEL POVERTY – NATIONAL PRIORITIES FOR ACTION Maria Wardrobe Acting Director of Communications NEA.
REMEMBER Why are elderly people likely to live in poverty. Give 4 reasons.
STUDENT FINANCE 2016/17 A PARENT’S INTRODUCTION. SESSION CONTENTS Common concerns Student Finance Wales The student finance package Student Loan repayment.
Grade 12 Family Studies.  Do you have a credit card?  What is it used for?  How is it like a loan?
Stella Creasey’s Consumer Credit Bill Why It Should Become Labour Party Policy.
Fuel Poverty – a National Perspective Rebecca Jones National Energy Action 10/02/2016.
Chapter 7 Buying Decisions. Slide 2 Where Can Consumers Get Credit? Credit is the ability to borrow money and pay it back later. 7-2 Getting Started with.
October 17, 2011 Objective: Students will learn about credit and the different types of credit.
Taking Control of Energy. In this workshop... Understanding Bills 3 Easy Ways to Save Concessions & Grants Switch & Save Saving Energy Flexible Pricing.
Energy Best Deal Gas and electricity prices are rising but there are ways to cut the cost of your energy bills: Make sure you’re getting the best energy.
Using Credit Wisely. Credit  Credit is a sum of money a person can use before having to reimburse the credit lender.  It allows a person to receive.
Personal Finance Section Credit and Debt. Personal Finance Section Credit gives extra punch to your purchasing power; but reckless handling of credit.
Foreseechange1 Finding the big spenders Charlie Nelson February 2012.
Chapter 10 Consumption and Savings Economics 11. What is consumption? consumption is that part of an individual’s income that is spent on goods and services.
Energy Best Deal Gas and electricity prices are rising but there are ways to cut the cost of your energy bills: Make sure you’re getting the best energy.
Presentation to Citizen’s Advice in Teignbridge
Big Energy Saving Network
Changeworks Energy & Food Waste Advice
What is Energy Best Deal & Energy Best Deal Extra ?
Big Energy Saving Network Frontline workers
Presentation transcript:

Helping consumers in debt

Worried about energy debts? Recent energy price rises, along with other rising costs and falling incomes, have left many people struggling to pay their energy bills With the extra cost of winter heating bills ahead we are worried many more people may go into debt to their energy supplier If you are worried about not being able to pay your energy bill you should know that your supplier has to help you to work out an affordable way to pay back the money you owe

Worried about energy debts? Over half of people in Britain are worried about being able to afford their energy bills this winter*. The figure is even higher among families and older people living on low incomes, with almost two thirds concerned. One in six people plan to only heat half, or fewer, of the rooms in their house this winter. One in 20 people will only be heating one or two rooms, rising to one in 10 of those in the poorest social group. * Omnibus research was carried out by TNS Omnibus on behalf of Consumer Focus on a face to face basis. The polling was carried out between 30 th September – 4 th October (with 1526 individuals aged 16yrs+) and 28 th October - 1 st November 2011 (with1394 individuals aged 16yrs+)

Worried about energy debts? Worryingly only just over half of people (55%) trust their supplier to help them if they get into debt. Fewer than half of people (49%) are aware their energy firm has to take their circumstances and ability to pay into consideration when arranging repayments of outstanding bills and almost one in five (19%) believe their supplier could name any amount and they would have to pay it. * Omnibus research was carried out by TNS Omnibus on behalf of Consumer Focus on a face to face basis. The polling was carried out between 30 th September – 4 th October (with 1526 individuals aged 16yrs+) and 28 th October - 1 st November 2011 (with1394 individuals aged 16yrs+)

Five top tips 1.Contact your energy company as soon as you realise you might have trouble paying your bill – debts will be harder to pay off if they grow. 2.Tell your supplier what you can afford to pay – they have to take this into account in agreeing your repayments. 3.Ask your energy firm, your local Citizens Advice Bureau or the Home Heat Helpline to find out about other free energy help available. 4.Even if you are in debt you may be able to switch to a cheaper deal with your current supplier, especially if you pay by cash, cheque or pre-payment meter. 5.Find out if you are missing out on financial help that could make it easier to pay your bills by contacting your local Citizens Advice Bureau.

Consumer Focus t Fleetbank House, f Salisbury Square London EC4Y 8JX