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  • Debt Help & Advice
    • Debt solutions
      • Debt Management Plan (DMP)
      • Individual Voluntary Arrangement (IVA)
      • Debt Relief Order (DRO)
      • Debt Consolidation Loans
      • Bankruptcy
      • Remortgage
      • Administration Order
    • Debt Help
      • Breathing Space
      • Settlement
    • Debt Help Scotland – Scottish debt solutions
      • Protected Trust Deed (PTD)
      • Sequestration
      • Minimal Asset Process (MAP)
      • Debt Arrangement Scheme
    • Types of Debt
      • Credit Card Debt
      • Council Tax Debt
      • Government & HMRC Debts
      • Business Debt
      • Energy Bill Debt
      • Gambling Debt
  • IVAs
    • What is an IVA?
    • IVA Eligibility
    • What are the Pros and Cons of an IVA?
    • IVA Reviews
    • IVA Calculator
    • IVA Costs & Fees – How much do IVAs cost?
  • Debt Management Plans
    • What is a Debt Management Plan?
    • Debt Management Plan Pros & Cons
    • Debt Management Plan Calculator
    • Debt Management Plan Process
    • Debt Management Plan Eligibility
    • Debt Management Plan (DMP) Fees
  • Articles
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    • Core Values
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December 15, 2022

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Cost of Living

Guides, Industry NewsBy Juliet FrancisDecember 15, 2022

Millions are seeing their household bills rising, due to an increased cost of living and inflation currently affecting the UK. It’s estimated that one in five people will be driven into debt this year.

All statistics correct as of May 2024.

MoneyHelper

To find out more about managing your debt and receiving free debt advice visit https://www.moneyhelper.org.uk/en/money-troubles/dealing-with-debt/use-our-debt-advice-locator.

Further Information

The insolvency service has produced a guide for people who are struggling with debt.

For residents of Scotland, the Scottish government have created the Debtors Advice Guide. For residents of Northern Ireland, you can read the government's Advice on managing debt.

© 2024 MoneyPlus Group. MoneyPlus Advice is a trading style of MoneyPlus Group Limited (07310059), which is authorised and regulated by the Financial Conduct Authority. Your payments into a Debt Management Plan are protected and compensation could be available from the Financial Services Compensation Scheme if there are any shortfalls in funds held on a customer's behalf. MoneyPlus Advice refers customers to MoneyPlus Insolvency Limited for Individual Voluntary Arrangements and Protected Trust Deeds. MoneyPlus Insolvency Limited is registered in England and Wales (08214793). Registered office: Riverside, New Bailey Street, Manchester, M3 5FS. Anel Andrew is authorised as a Licenced Insolvency Practitioner in the United Kingdom by the Insolvency Practitioners Association, Licence number 17170 and is bound the Insolvency Code of Ethics.

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