Can I change provider when in debt?

nursebear83

Hello everyone, hope you are well.

Due to circumstances out of my control I am in debt with my energy company to the tune of £700. I have a payment plan set up and am chipping away at it but I was wondering if its possible to move to someone else while paying off this debt? I am currently with N Power but know I can get a cheaper deal elsewhere. Seems daft paying more money for the same thing when I could be saving money and paying off the debt quicker.

Thanks in advance

Jen

matelodave

Generally no you can't. If you are on a credit meter rather than a paygo then you'll have to pay the bill when you leave your present supplier. If you are on a payment meter then you might be able to change as it is possible to transfer up to £500 of debt to your new supplier.


Your alternatives are to try an get a better tariff with your existing supplier or pay more towards your debt to get it down.


A £700 debt will take around £60 a month on top of your existing costs to knock it down within 12 months, so if you aren't paying it down at that rate then you are doing well with free credit

nursebear83

I currently have a plan where I am paying £16 a month off the debt and then my usual bills as well. This will take ages I know but I am going to pay more as soon as my circumstances change. Thanks for reply.

molerat

What tariff are you currently on ? NPower are not very competitive at the moment but they could have something cheaper than what you are currently on and they have no tie in charges so you could possibly move once you have paid down the debt.