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What effect will a default have on me?
LauraLou1985
Posts: 38 Forumite
Evening alllllll!
So, I'm in a DMP and I received my first default a few weeks ago. I know it will have ruined my credit rating but I was just wondering how it will effect day to day things such as gas and electricity suppliers?
I'm only asking because I want to change gas and electricity suppliers soon and I currently pay by direct debit and for some reason I've got it into my head that credit checks are done for this. Am I right? Could I get turned down if I applied? What other 'day to day' things could be affected because of my default?
Thanks in advance x
So, I'm in a DMP and I received my first default a few weeks ago. I know it will have ruined my credit rating but I was just wondering how it will effect day to day things such as gas and electricity suppliers?
I'm only asking because I want to change gas and electricity suppliers soon and I currently pay by direct debit and for some reason I've got it into my head that credit checks are done for this. Am I right? Could I get turned down if I applied? What other 'day to day' things could be affected because of my default?
Thanks in advance x
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Comments
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Won't affect them at all. Any checks will be to confirm you are who you say you are, and you live at the address you've given.0
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eon can be strict on credit checks, so I would avoidDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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Thanks for the replies. Still a little bit confused though! So they do credit checks and can turn me down? Sorry for being a pain!x0
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Yes they can...Some may ask for a deposit returnable after 12 months of on time payments. Most do not do anything at all. Very few will turn you down.LauraLou1985 wrote: »Thanks for the replies. Still a little bit confused though! So they do credit checks and can turn me down? Sorry for being a pain!x:footie:
Regular savers earn 6% interest (HSBC, First Direct, M&S) Loans cost 2.9% per year (Nationwide) = FREE money. 0 -
You may not be able to work in finance such as, for a bank.0
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