(The newspaper online):- Economic challenges have taken a serious turn with a toxic combination of high interest rates, rising electricity bills and rising food prices.
Debt collection consultant Geir Grindeland tells Nettavisen.
Debt collection company Kredinor went public on December 1 last year due to concerns over payment issues among its clients.
Klaus Anders Nystein, then CEO of Credenor, said that people were noticing the challenges associated with interest rates and price increases, and that many had simply stopped paying attention to their bills.
Nestin's comments came before Norges Bank's latest rate hike – which saw the interest rate rise from 4.25 to 4.50. The effect of this has not yet been seen.
– Hn possible explosion
On Friday, several places in the country will witness colder temperatures than usual. For eastern Norway, the weather will be cooler on Friday and Saturday night.
In the capital, temperatures are expected to reach 20 degrees, while outdoor areas indoors will see temperatures drop to 30 degrees below zero.
As the extreme cold rages, electricity prices will rise directly on Friday. The average price in eastern, western and central Norway will be NOK 2.73 including taxes, Strømbørsen Nordpool reported on Thursday. Sometimes there will be very large price differences throughout the day on Friday. Between 17 and 18 it will cost NOK 7.45 per kilowatt hour.
The inevitable consequence of this situation is the potential explosion of electricity-related debt collection cases, says Grindland.
Comes with advice
A debt collection consultant offers clear advice to those who are already struggling to pay their electricity bill.
– Communicate with your electricity provider and discuss possible installment plans or temporary solutions. Grindelland says they can offer help or advice to help you through difficult times.
For those who are generally struggling to improve their personal finances, Grindland offers the following tips:
– Take a hard look at your current budget. Look for areas where you can reduce costs, and prioritize necessary expenses.
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