Energy supplier wants deposit!

cheesedoffwithdebt

My IVA ended last July so
My six years for my credit file looking sad ends this coming weekend.
I'm still keen to save money where I can and recently tried to switch energy suppliers to ovo who emailed to say they want a £40 "security deposit " I declined as it didn't seem clear to me but they said it's because of my experian report- I've always paid my core bills like the mortgage and utilities - anyone else had this ?

National_Debtline

Hi cheesedoff...


I appreciate it can seem unusual, but suppliers are known to take these measures if they perceive a risk (however small) of non-payment, and even if you have always maintained payments on your household priorities, Ovo may have based their deposit request on the rest of the credit report information available to them. Of course this may all change in a week's time when the IVA disappears off your file.


Dennis
@natdebtline

cheesedoffwithdebt

Thanks Dennis

coffeehound

cheesedoffwithdebt wrote: »

I've always paid my core bills like the mortgage and utilities - anyone else had this ?

Yes I had to put £100 up front to npower when moving into my flat last year. I had missed a couple of credit card payments in the past.

Starry1981

Hi I moved from British Gas to utilita in February a deposit was never mentioned I had started my Iva in August/sept 2015 i didn't even know some companies do this.....tbh I've found a lot of things out that I never knew prior to the Iva

cheesedoffwithdebt

Just a quick update - I got an email from ovo last night saying the switch is going ahead and an email from Scottish power saying they know I'm leaving ! Have ovo had a change of heart? As I said I've paid all my bills consistently on time - the IVA related to me having a period not working and credit card bills growing like rampant weeds but I've always tried to do everything as honourably as I can/ anyway at least we know now that I'm theory is possible for suppliers to request a deposit . And my monthly bills will reduce- hurrah!

Norman_Castle

First Utility expected a £300 deposit from me. This would cover a years worth of gas and electricity use. Zero debts on my credit file. I failed a credit check because I opened to many current accounts.
I chose a different supplier.

GingerBob_3

Norman_Castle wrote: »

First Utility expected a £300 deposit from me. This would cover a years worth of gas and electricity use. Zero debts on my credit file. I failed a credit check because I opened to many current accounts.
I chose a different supplier.

This is precisely the way to deal with them. F 'em off, in other words.