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Londoners Least Confident About Paying Bills

By Londonist_Laura Last edited 125 months ago
Londoners Least Confident About Paying Bills
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Maybe it's because everything's just so bloody expensive, but "London is the least confident region when it comes to meeting household bills and repayments on time", reports CreditExpert, the online credit monitoring service from Experian.

We might worry about overstretching ourselves, but it's not all bad news apparently. "Because they are less optimistic about their credit situation than the rest of the nation, Londoners are more likely to take their financial situation seriously."

What with high rent and transport costs, how difficult it is to get on the property ladder and the constantly rising price of cheese, it's no wonder that so many Londoners find it hard to stay out of the red. But as Jim Hodgkins, Managing Director of CreditExpert, warns:

"It's also important that as we take steps to stay in control of our financial situation, we also take precautions to avoid falling victim to ID fraud. This increasingly common type of crime can affect our credit score and our ability to borrow in the future."

Last Updated 04 August 2006

Kam

"we also take precautions to avoid falling victim to ID fraud. This increasingly common type of crime can affect our credit score and our ability to borrow in the future."
WTF? So people fall victim to ID fraud because of the bank and credit card companies' hair brained security and it effects OUR credit rating?!!

Laura

How I read it was that if you have more credit cards you're more likely to experience ID fraud...so if you have four credit cards you're four times more likely to experience fraud. Makes sense that way. I don't think they're trying to duck out of the security issue, considering they're the ones who end up paying the customer back any money that's been taken from them fraudulently.

Ebeth

It's a good idea, sometimes, NOT to pay your bills in this country, I've found. For example, Westminster City Council, Sky, British Gas, OneTel, BT, and London Energy have all continued to bill me for things I didn't owe them for, or take money from me, after my account was closed, without a peep, or an apology after I was on hold (on an 0870 number) for hours on end, to explain their screw up. These kinds of "bills" that we don't pay, by the way, also affect our credit rating.

If you want to watch out for fraud, watch out in your regular bills. It happens all the time.