Ending a contract phone

annibee

Hi,

Sorry if this is a repetative question. Hoping someone can tell me if I cancel my contract phone will it affect my credit rating?
I know I have to pay a concellation fee which im aware of and I dont mind that so much but I really need to know if it will affect my credit rating ie early termination default or anything?

Thanks in advance

Browntoa

no affect at all if you buy out your contract , the cancellation fee you mention will be based on remaining months on contract times the monthly fee , ie

6 x £20 = £120 cancellation fee

if you do not fulfill the above it will leave a black mark on your credit rating and they wil chase for the debt anyway

if you are struggling to get the money to pay off the remainder consider selling the phone to Mazuma , CEX or one of the cashconvertor type stores and use the money to pay off the balance due

then buy a cheap PAYG for £10 with a top up

annibee

Great thanks for that