Sarah Pennells comments on the FCA's findings on people falling behind on their bills
Responding to the FCA’s findings on people falling behind with their bills, Sarah Pennells, consumer finance specialist at Royal London says:
“While it’s good news that fewer people are struggling to pay their bills, there are still far too many who are not asking the companies they are in debt with for help. Our cost of living research shows that the vast majority of people; four out of five, have not approached anyone for help with the cost of living, even though approximately one in four say they’re overdrawn at the end of the month – either every month or from time to time - or have to borrow. Most of those who had asked for help with the cost of living approached family and friends, rather than talking to, for example, their bank, energy company or mortgage lender.
“However, there is a lot of help available, and millions of people are missing out on initiatives such as extra time to pay their mortgage, or social tariffs for water and broadband. The key message is not to suffer in silence as the earlier you ask for help the more options may be available to you.”
For information and options for help with the cost of living visit:
For further information please contact:
Nicki Parry, PR Manager
- Email: nicki.parry@royallondon.com
- Mob: 07919 170 043
About Royal London
Royal London is the UK's largest customer-owned life, pensions, and investment company, and one of the top 30 mutuals globally*. With over 160 years of heritage and no external shareholders, we're able to take a long-term view, focusing on supporting better outcomes for our customers.
Today, Royal London looks after 8.4 million life and pension policies, with £212 billion of assets under management and over 5,000 colleagues**. In 2026, we shared £199 million of our profits with approximately 2.4 million eligible customers.
We invest in partnerships that reflect our values, including being the only Founding Partner of the first British & Irish Lions Women's Team, supporting women's and girls' rugby across grassroots and elite levels to help develop the next generation of players and coaches. All driven by our commitment to doing what's right for our customers.
Royal London works for you.
Discover more at royallondon.com.
*Based on total 2024 premium income. International Cooperative and Mutual Insurance Federation Global data, 2026.
**Figures quoted are as at 30 June 2026.