Stuck with my Prepayment meters

Sheriff_Fatman

Part of this maybe should have been posted in another forum, but I didn't want to cross-post it. I apologise in advance if this is wrong.

I rang British Gas today to ask them to remove my prepayment meters and switch me to a DD payment plan. After the credit check, they refused. Unless I would be willing to stump a SIX HUNDRED quid security deposit.

Now, the meters were in this house when we moved in back in 2001. So there's been no debt to a supplier ever. Having done the free Experian credit check, there are 3 entries in there for debts that they say I have defaulted on. 2 of those have balances that say 'Satisfied'. All 3 of them were settled over a year ago. I rang them up, asked them for a final settlement figure and they asked for less than the outstanding balance, but agreed not to pursue me for the remainder.

I have 2 questions really.

1. Is there any way I can get rid of these damned meters, without having to pay a huge sum to BG?

2. Is it possible to 'fix' my credit rating?

Thanks in advance.

Premier_2

Unfortunately you are after a credit meter, as as the name suggest, they offer credit so it's not unsurprising that you are required to pass acredit check to have them.

Unfortunately, as you know, you failed that credit check even by offering to pay monthly via DD.

You are doing the right thing by taking measures to improve your credit profile by settling the outstanding debt, but the history will remain.

Eventually it will become less important or even disappear, but in the meantime you could possibly improve your credit profile by obtaining a couple of credit agreements and ensuring you keep up the repayments on them.

If you want a credit meter immediately, you will have to pay the deposit requested. This will normally be returned once the supplier has gained enough confidence that you will not create another unsettled debt. You could enquire as to how long they would need to keep the dep[osit before it is returned.

Pssst

If you believe you are creditworthy and really want a credit meter then tell them you are moving suppliers but make sure you have the new suppliers agreement to change to credit beofre you sign up!

Dannii_B

Pssst wrote: »

If you believe you are creditworthy and really want a credit meter then tell them you are moving suppliers but make sure you have the new suppliers agreement to change to credit beofre you sign up!

I doubt most energy companies would do this though, as it's all to do with credit. Customers on prepayment meters are easy for companies to get money out of and are reluctant for customers to go into debt on credit meters where they have to chase them for this - PP meters make it easy for them to collect debt automatically through the meter. So a new supplier normally would only change the meters after 12 months pay history, or a hefty charge to change the meters.

Best bet is to go through the current supplier unless you want a long/expensive wait on your hands