Outfox The Market Direct Debit changes

dprice8893

Are you going bust?

To be blunt, no! It is no secret that the energy market is a difficult place, but we are a sustainable business with a long– term vision. We are proud that we have managed to help thousands of customers reduce their energy costs over the last 2 years and we look forward to doing so again.

I wonder how many customers they'll have in the new year?

smipsy

well of course they can't say they're going bust. had they done that they'd be dead within 24 hours!

Anthorn

Organza_Lace wrote: »

Of course they will go bust or they wouldnt have sent out the email. Ive had the email too despite moving over to Scottish Power at the beginning of the month. Cant wait for the final bill from OFTM so i can draw a close on the whole experience with them.

That assumes that OFTM don't know they're about to go bust and it takes them completely by surprise and they haven't taken measures to rectify it. Their assertion defeats that assumption.

It could be that all their customers will leave which leaves them with no revenue and they then go bust. But every switching statistic I've ever seen defeats that too: Most people will not switch because it's too bothersome.

I stick with my conclusion from earlier in this thread: OFTM have come up with a better business model which serves them better through the current difficulties which most energy companies face.

Steve456

firsttimemover wrote: »

Just an FYI for anyone in the same boat, I've just spoken with someone on chat following this email, in particular:
"We will charge you £25 if, you have switched to another supplier, have cancelled the Direct Debit and your account is in debt."

My new switch went through this week and I am currently a few pounds in debit, but my direct debit amount for January is 3x the original amount and at least double my winter consumption so to leave my direct debit active for the next 8 weeks while they generate a final bill would leave me hundreds of pounds in credit (I have less than a week worth of electric left to be billed) and they have just confirmed that I am free to cancel my direct debit and won't be charged any fees (they've put a note on my account so I won't be charged), so I'd urge anyone else in the same boat to do the same.

I've been emailed the transcript, so if they try and charge me, I have the evidence.

I'm in a similar position - switch going through on Friday. I have already emailed them and stated that I will (by my estimate) be no more than £10 to £20 in debit at that point and If they take the threatened £200 direct debit a week later I will have it reversed and cancel the DD with my bank.

I certainly will not spend ages on "chat" or trying to ring them in order to prevent their own c@ck-ups causing problems.

It would be interesting if they ended up trying to charge me the £25 "penalty", 'cos I'd love to defend that claim!

VoucherMan

cyka wrote: »

email update from OFtM

I prefer the other one. Seems more honest.

RS2OOO

I've just tried a way to allow me to cancel the Direct Debit without fear of going into debit during the switch process.

Phoned up (well, easier said than done, got cut off after 46 minutes then waited another 38 mins to get through again) and I simply said I'd like to make a debit card payment to my account.

They said no problem, transferred me through to accounts and without any questions asked they took my debit card number and credited my account by £30. That, alongside my existing credit of £78 will be more than enough to cover the upcoming bill.

I am now about to call the bank and cancel the DD that's due to come out on Monday for £200.

After my switch has completed (due on Monday 24th), and my next OTM bill comes through (Tuesday 25th) OTM will owe me around £10 - £12 which unlike the £200 they want to take isn't enough to get too worried about.

I can rest easy knowing my switch cannot now be blocked after I cancel the DD.

VoucherMan

Is there anyone here on the fixed (whack) tariff who received the (soon rescinded) email in November advising the change from membership fee to standing charge?


If so, please send me a PM as soon as possible.

bye_bye_band_G

Like many people I think, I've become quite obsessed with this awful company and the hold they have over me and my money, and have spent much of December reading this thread and worrying. Instead of concentrating on organising Xmas for my family which I should be doing.

But with over 1000 posts this thread actually seems to be slowing down a bit. My guess is that it's because a lot of the chat has moved to the Facebook group called

"OUTFOX THE MARKET DISCUSSION"

The group will hit the 1000 membership in the next few hours, and I encourage anyone who has not yet seen it to pop over and check it out. Lots of important info and opinions, and help for all affected.

I would also encourage people to write about their experiences on Trustpilot, the more 1* reviews they get, the sooner their 'Trustscore' will go from green to amber.

VoucherMan

bye_bye_band_G wrote: »

But with over 1000 posts this thread actually seems to be slowing down a bit. My guess is that it's because a lot of the chat has moved to the Facebook group called

"OUTFOX THE MARKET DISCUSSION"

The group will hit the 1000 membership in the next few hours, and I encourage anyone who has not yet seen it to pop over and check it out. Lots of important info and opinions, and help for all affected.

I would also encourage people to write about their experiences on Trustpilot, the more 1* reviews they get, the sooner their 'Trustscore' will go from green to amber.

National press now taking an interest too, so a good opportunity to pass on any 'horror stories' (thinking massive unjustifiable direct debit increases, switches blocked when still in credit).


More info on the Facebook discussion group.

RS2OOO

I tried to Join this but not going to sign up to Facebook just to do so.

I put my details in Facebook to join and it instantly showed a list of people I know - Some of these people I've never emailed or phoned, they are just names that I have talked about in conversation or people who work at the same place as me. I did not like that so immediately closed the account.

You are welcome to reproduce any of my posts into that discussion if you wish. I know from many reviews I've read that it might be helpful to inform people to call OTM and make a lump sum debit card credit to your account which will allow you to cancel your inflated direct debit without fear of being in debit ahead of your final bill (assuming most people are wanting to leave but cannot afford 2 DDs from 2 companies in a single Month).

I paid £30 to my account which has put me in enough credit to allow me to cancel the upcoming Direct Debit of £200 without fear of my account going into debt.