Thursday 10th of March 2011
Many people already in a dire monetary position may find the financial effects of the recent cold winter encourage them to start considering IVA questions.
Price comparison and switching service uSwitch.com has revealed almost five million households in the UK are now in debt to their energy supplier.
The research found that Brits owe collective arrears to their providers to the tune of £624 million.
Ann Robinson, director of consumer policy at the website, described the situation as a "real concern".
The industry figure commented: "Despite two years of price cuts almost two in ten households are in debt to energy suppliers - and now prices are going back up again."
A typical yearly energy bill in Britain has now reached £1,132, the portal added.
Aviva's latest Real Retirement Report showed 23 per cent of over-55s do not expect to be debt-free until they at least reach the age of 75.
By Neil Burton
