Lost my job

Netstar

Hi, I lost my job yesterday and have an o2 contract phone which was an 18 month contract. I still have a year to go. I cant afford to pay my mobile contract now, what can I do. Can I ask to go onto sim only, will they do this or will I still have to pay the full contract each month? Help. No sleep for worrying about bills and credit cards.

gjchester

Netstar wrote: »

Hi, I lost my job yesterday and have an o2 contract phone which was an 18 month contract. I still have a year to go. I cant afford to pay my mobile contract now, what can I do. Can I ask to go onto sim only, will they do this or will I still have to pay the full contract each month? Help. No sleep for worrying about bills and credit cards.

Sorry for your circumstances.

Unfortunatly you signed a contract and need to see it through, however it you try phoning them, explaining to the the issue, and above all remain calm and polite, they may be willing to reduce your minutes and texts and hence your bill but anything they do will be a goodwill gesture, and not a right that you have.

Good luck

Sublime_2

Sorry to hear that.

All of the above. If you have other debts, might be worth ringing CCCS and see what they can do.

Guys_Dad

I, too, would like to add my sympathy for your situation. Not the news you want to hear just before Christmas.

I agree with the previous two posts and have no additional advice for you, but I would like to use your thread as a warning to all those other MSE members who are salivating at the latest Iphone, HTC or whatever, or even trying to end their contracts early to rush into another 24 month commitment.

You never think it will happen to you. You may be financially prudent, but if suddenly the mat is pulled under your feet, like it has with Netstar, then the shiny new phone becomes a shiny millstone that is draining your savings or reduced income.

So, in these very uncertain times, think hard about committing to a 24 month contract, ask if you really need the latest gizmo and consider the financial attractions - for the time being - of sim-only or, as some recommend, giff-gaff.

Apologies to Netstar for slightly hijacking the thread.

Wintermute

Again, I'm sorry to hear about your situation.

As stated above you're unfortunately locked into that contract whatever your situation is, but what phone did you get? If it's a high value handset such as an iPhone or HTC Desire it could be worth selling it then using the money raised to either buy out the contract or even just put the money into savings and use that to pay the next few months of the contract until you get back on your feet, you can pick up a usable PAYG handset for a tenner or less these days so you can use that with your contract. The most O2 are realistically going to be able to do for you is to lower your tariff once or maybe twice saving you £5 or £10 a month, but you're still going to be tied into the contract. Do you have insurance or any chargeable bolt-ons that you can cancel to save some money? If you have a smartphone and you end up selling it make sure you move onto a standard tariff if you're going to continue on with the contract as you're normally spending a fiver extra for data.

Techhead_2

Following on from the excellent advice above. It helps to write down a plan. So yours will be:

Contact O2 and reduce your monthly payment if possible.
Sell the handset, buy a cheap phone and use the proceeds toward your bill.

Finally, don't worry. If the worst happens and you miss a payment. You can contact O2 and arrange a payment plan you can afford. You will lose the use of the contract but you can easily go to pay and go.