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– Rising Electricity Prices and Economic Challenges Spark Concern for Debt Collection Explosion

(The online newspaper): – Economic challenges have taken a serious turn with a toxic cocktail of increased interest rates, high electricity bills and rising food prices.

Debt collection adviser Geir Grindland tells Nettavisen.

The debt collection company Kredinor went public on 1 December last year with a concern related to payment problems among its customers.

The then CEO of Kredinor, Klaus-Anders Nysteen, stated that people are noticing the challenges associated with interest rates and increased prices, and that many have simply stopped paying attention to their bills.

Nysteen’s statements came before the latest rate hike from Norges Bank – where the policy rate went from 4.25 to 4.50. The effect of this has not yet been seen.

– A potential explosion

On Friday, several places in the country are experiencing colder temperatures than they are used to. For Eastern Norway, it will be coldest on Friday and the night to Saturday.

In the capital, temperatures have been forecast as low as 20 degrees, while exposed places in the interior will see temperatures drop to minus 30 degrees.

At the same time as the bitter cold is raging, electricity prices are going straight up on Friday. Strømbørsen Nordpool reported on Thursday that the average price in Eastern, Western and Central Norway will be NOK 2.73 including taxes. There will sometimes be very high price differences throughout Friday. Between 17 and 18 it will cost NOK 7.45 per kWh.

– An inevitable consequence of this situation is a potential explosion of debt collection cases related to electricity, says Grindland.

Comes with advice

The debt collection adviser offers clear advice to those who are already struggling to pay their electricity bill.

– Communicate with your electricity supplier and discuss possible installment plans or temporary solutions. They can offer assistance or advice to help you through difficult times, says Grindland.

For those who generally struggle to get their personal finances to improve, Grindland offers the following tips:

– Take a careful look at your current budget. Find areas where you can reduce costs, and prioritize the necessary expenses.

2024-01-08 06:16:59
#Fears #explosion #electricity #bills #debt #collection

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