Lamport Bassitt Solicitors - Legal News - Rising fuel costs 'may push people towards personal insolvency'


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS Rising fuel costs 'may push people towards personal insolvency' Anyone in the process of getting advice for personal insolvency matters might agree with one charity's assessment of rising fuel costs. The Consumer Credit Counselling Service (CCCS) has responded to news that British Gas has announced a 98 per cent increase in profits for the first half of the year. According to CCCS, higher prices for basic living requirements will lead many individuals down a slippery slope in terms of debt. Malcolm Hurlston, chairman of the group, stated: "It is increasingly not excessive credit that is pushing people into debt but the high cost of everyday living." He added that although people have curbed excessive spending in many areas, such a rule cannot be applied to electricity. "Energy use in the home, which is a necessity, can only be limited so far," Mr Hurlston noted. According to the Financial & Leasing Association, many consumers are keen to ride out the country's economic difficulties before making spending commitments. Posted by James Walsh Related Articles: 8/5/2012 - More companies fail as personal insolvencies fall 23/4/2012 - Landlords and insurers unite behind insolvency law reform 19/4/2012 - Enterprise Act 'does not need radical overhaul' 13/4/2012 - Retail insolvency rate up 15% as rent payments bite 28/3/2012 - Business insolvencies on the rise More Insolvency & Restructuring News