Rates write off increases 50%
27 October 2011
Recent reports have indicated that the amount of rate debt that has been written off in the period from March 2009 to March 2010 increased by 50% on the prior year's total. The 12 months to March 2010 saw the write off peak at £15M and is expected to rise even further.
Furthermore, it is believed that the body responsible for collecting rates has built in a provision for a £20m write-off this year.
Land and Property Services (LPS) said the write-off was due to the economic downturn.
The body collects more than £1bn in rates each year. At the moment more than £150m in household rates remain outstanding.
In addition there has been an increase of 167% in the number of people who have had to enter into special arrangements because of difficulties in meeting payments.
If you are having trouble paying your rates to the Land and Property Service, or if you are struggling with payments to any of your creditors, call advice4debtNI on 0800 917 4607 for free, independent, confidential advice.
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