Bulb payments

DancerClare

So I've been watching the news and am a little concerned that Bulb is one of the bigger firms at risk of going under. I've screen shot my current credit and downloaded the last year's worth of statements.
My concern is that they automatically upped my monthly  repayments initially from £76 to £109.44 stating that they were concerned I'd fall into arrears during the winter (I tend to prefer to add an extra lump sum during winter to boost my credit & account for winter fuel usage). I've since reduced the payment, but they won't let me drop it below £98. I wouldn't normally mind, but I am over £100 in credit and am concerned that if they go bust, I'm then going to have to pay all the extra winter fees without this credit being taken into account. 
Is there a way to ensure that I won't lose my credit?

molerat

Your credit is protected and you will get it back.  The problem is that, in the event of a company collapsing, the credit may not be available to use over the coming winter and you will have to pay the going rate.  Not really something you can prepare for, just hope it doesn't happen.

Robin9

Be patient  - if (and it's an if) Bulb fails you will get it all back.- eventually.

If you haven't already done so read your meter, take a photo. (just like you do every month)

QrizB

DancerClare said:

So I've been watching the news and am a little concerned that Bulb is one of the bigger firms at risk of going under. I've screen shot my current credit and downloaded the last year's worth of statements.
My concern is that they automatically upped my monthly  repayments initially from £76 to £109.44 stating that they were concerned I'd fall into arrears during the winter (I tend to prefer to add an extra lump sum during winter to boost my credit & account for winter fuel usage). I've since reduced the payment, but they won't let me drop it below £98. I wouldn't normally mind, but I am over £100 in credit and am concerned that if they go bust, I'm then going to have to pay all the extra winter fees without this credit being taken into account. 
Is there a way to ensure that I won't lose my credit?

If Bulb does go under, your account (complete with credit) will transfer to the SoLR. The SoLR won't be able to bill you until they have details of your Bulb credit, so you shouldn'tn have to worry about needing to find an extra £100 in the meantime.