Two million people missed a payment for the first time this year

More than 16 million people have missed payments on household bills this year, with 30% of households falling behind on at least one payment in 2023.

Two million (14%) people missed a payment for the first time in 2023, according to a study by the Money and Pensions Service (MaPS).

Credit card repayments were the most common bill that went unpaid, followed by utilities, council tax, overdrafts and loans. But some people also missed rent or mortgage payments.

‘Act now to help avoid long-term problem debt’

MaPS is advising those affected to speak to the companies they owe money to as they have a responsibility to treat customers fairly by offering affordable options.

Lenders and organisations may be able to offer a better deal or a more flexible payment arrangements. In some cases there may be charities that can help advise on household debts.

Charlotte Jackson, head of guidance at MaPS, said: “People are struggling this year and as these results suggest, some household budgets are becoming severely stretched.

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“One in seven people currently wouldn’t take any action if they started to struggle, and this increases their risk of becoming stuck in the trap of long-term problem debt. Acting now will help you get some control over what’s happening, find out your options and avoid the devastation that debt can cause.”