First Utility

gibs83

Hi,
Can anyone tell me do first utility report to CRA's? We are in credit with them and wanted to stop the DD coming out tomorrow with the bank (and for the next few month) until the credit is gone.

Would this class as a missed/failed payment and be show on my report or would they just deduct the bill from the credit.

We have just sent a mortgage application off and don't want to do anything that might go against it.

Thanks.

sam.4000

Don't stop your direct debits as you will be put on their standard tarif. Not sure how it will affect your credit rating but I would not risk it. Phone them and ask them to refund the credit.

gibs83

sam.4000 wrote: »

Don't stop your direct debits as you will be put on their standard tarif. Not sure how it will affect your credit rating but I would not risk it. Phone them and ask them to refund the credit.

No fussed about that really, it will cost me £2 a month more for not using direct debit but I'd rather do that than the hassle of ringing and requesting a refund then waiting for it coming through.

Im going to leave it though as you say its not worth risking the credit rating. I know some utility companies apparently report missed payments.

SensibleSarah

I changed from a fixed monthly direct debit with First Utility to a variable direct debit as I was in substantial credit and was being made redundant at the time so wasn't sure when they next pay cheque was coming.

Was a great decision. This was in Oct and I've only just started paying again as obviously they use the credit first as payment before they start taking money from me again. I have no problem with paying monthly for what I actually use. Happily I was only out of work for a week but no plans to switch back to fixed DD anyway unless they offer me a more realistic one than I was on previously, which was clearly way higher than needed.