Some advice please

KITTENPOP9

Hi there, we recently had our gas and electricity bills and cannot afford to pay them due to our financial situation, what will our utilitiy companies offer us ? Will they insist we go on a prepayment meter which we believe will be more expensive in the long term....
Many Thanx

Premier_2

Almost certainly if you don't agree a mutually acceptable repayment plan.

If you have an IGT (independent gas transporter), you may not get a gas PPM, but if you don't and don't pay the bill, you may simply end up with no gas.

Edit: Aren't you due to be made bankrupt this week? If so, I suggest the removal of credit meters will be the least of your problems.

concerned43

You could ask for a payment card instead of pre-payment.

kjsmith7

concerned43 wrote: »

You could ask for a payment card instead of pre-payment.

Most companies allow you to pay either weekly, fortnightly or monthly, but payment cards sometimes come with a small surcharge added into the unit rates (e.g £5 per quarter). Bear in mind, the company will work out what your yearly bill is and then add the debt on and divide into your chosen payment frequency - the idea is you will cover the cost of your debt and your consumption over the next year. For instance, dual fuel bill = £1200, debt = £500, total to pay back is £1700, or £142 per month, £71 per fortnight or £35.50 per week.

If you are being declared bankrupt, contact your energy supplier with the info (court case ID, etc.) after it's gone through and they'll write off what you owe up to the date you are declared bankrupt and start you afresh. If your account is in joint names, e.g. Mr & Mrs XYZ, both of you will need to be declared bankrupt, else they won't do it. I'd then suggest a payment card as above to stop any debits from building up in the future. Hope that helps.

markharding557

Prepayment is probably your best option,they may well spread any debt over a longer period.
The charges now should be in line with paying quarterly so not as expensive as it used to be and they will enable you to take control of your bills because they make you much more aware of usage and you have to pay in advance of usage.
Your fist step to recovery from bankruptcy is to learn how to budget
good luck