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House-movers penalised for forgetfulness - Financial news from Quotesure - 24/08/2005


20 per cent of peeople who move house forget to inform the relevant authorities says a new report.
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House-movers penalised for forgetfulness

People that move home and forget to inform the relevant parties are facing fines of £257 million, claims a new report.

Fines for missed payments and interest on overdue bills when Brits don't tell people they've moved costs the average person £85.42, according to BACS Payment Schemes.

One in five people do not inform the relevant authorities, and because of this, one in six receives a final utility reminder and one in ten finds that their services have been disconnected, reveals the research.

'Moving home is already an expensive and stressful time, yet we are wasting millions more by letting household bills fall behind when changing address,' said Michael Chambers, managing director of BACS Payment Schemes, the company that runs the UK's direct debit service.

Moving can be a stressful time, and there is so much to think about, that 33 per cent of repondents claimed moving was the most stressful time of ther lives.

BACS suggests setting up direct debits to ensure that all bills are covered if people move, and with the average person expected to move six times in their lifetime, this could be a good idea.

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