Should I switch before Bulb goes bust?

City_Girl_3

Hi, I’m with Bulb who I actually quite like - I know I’m not on the cheapest deal but their customer service is good and that’s super important to me, because I literally don’t have time to deal with difficult suppliers.

I’m sad to see they are on the brink of collapse but don’t want to risk being transferred to a supplier I’ve not chosen and who may have poor service.  

I have £800 credit built up with Bulb for this winter. I know that if they go bust before I switch, my credit transfers with me.  However if I switch now and they go bust before I get my money back, am I stuffed? What would my rights be in that case?

many thanks!

Alpha_5

City_Girl_3 said:

Hi, I’m with Bulb who I actually quite like - I know I’m not on the cheapest deal but their customer service is good and that’s super important to me, because I literally don’t have time to deal with difficult suppliers.

I’m sad to see they are on the brink of collapse but don’t want to risk being transferred to a supplier I’ve not chosen and who may have poor service.  

I have £800 credit built up with Bulb for this winter. I know that if they go bust before I switch, my credit transfers with me.  However if I switch now and they go bust before I get my money back, am I stuffed? What would my rights be in that case?

many thanks!

Things to consider (I don't have the answers, sorry!)

A switch takes around 3 weeks - Bulb may not even be trading by then.
If Bulb stopped trading after you'd left, but before you'd receive any credit balance refund, you'd be at the back of the queue to get your money, according to posters on here with similar experiences (though you would get it eventually). 
Who would you switch to that isn't likely to go bust? Personally I'd only consider the big six at this point (I'm currently being switched to British Gas after PFP went bust) .
What will you pay? You're unlikely to find a cheaper tariff than you're currently paying.

If Bulb do stop trading you'll be protected by the price cap, so in the short term, you might be best off riding it out with Bulb and enjoying cheaper bills for as long as possible.

That's what I'd do anyway. Of course, Bulb may secure the finding they are after and everything will be fine and dandy. Ultimately there are loads of ifs, buts and maybes, so who knows?