A Nottingham financial company has warned people over a campaign urging people to stop paying their utility bills. Don't Pay UK wants to get one million people to pledge to cancel their bills in an effort to force firms to reduce them.
This is in the wake of the cost of living crisis, with energy prices expected to remain at more than two-and-a-half times their pre-crisis levels until at least 2024. If government and energy companies have not reduced bills by October 1, group members say they will take action by cancelling direct debits. They hope that by everybody doing this on the same day they will be able to send a strong message to energy companies.
However, as Don't Pay gains momentum, Imran Hussain, director at Nottingham-based Harmony Financial Services, has warned people of the consequences of not paying their energy bills. Mr Hussain said: "Anyone considering not paying their utility bills and who thinks they'll be able to purchase a home within the next few years may as well forget about it, especially if they have a small deposit. Not paying your energy bills will be curtains for your credit score.
