Energy suppliers going bust



Pacific

Striker
Its going to go up regardless as the supplier has gone bust, that has nothing to do with the point im making.

Do you think a new supplier can use another suppliers direct debit mandate? :lol:
Octopus who've taken over Avro's customers seem to reckon they can unless I've misunderstood an email from them

i've just had a direct debit go out which says Avro but they reckon it'll be automatically credited to them and i don't need to do anything

or at least i hope that's what it means :lol:
 

yamar1

Striker
Octopus who've taken over Avro's customers seem to reckon they can unless I've misunderstood an email from them

i've just had a direct debit go out which says Avro but they reckon it'll be automatically credited to them and i don't need to do anything

or at least i hope that's what it means :lol:
Maybe a new thing as an emergency but certainly not something iv heard of. Hopefully it works out for you.🤞
 

Hull_Mackem

Striker
Tough. So do i.

Got to be done. Only a fool would leave a dd open with a supplier who has gone bust.
What if they owe you money though?

Only a fool? What are you implying, that they might clear your bank account out and flee to Brazil?!
 

Hull_Mackem

Striker
Any money owed transfers to your new supplier. In which case the credit I had with Avro is now protected and managed by Octopus
Yes, you are right. It probably doesn't matter much either way, but the experts in this field recommend leaving it open. Means you can still pay your bill while new supplier does the admin
 

lurker

Striker
Its going to go up regardless as the supplier has gone bust, that has nothing to do with the point im making.

Do you think a new supplier can use another suppliers direct debit mandate? :lol:
No but the credit in the account is protected.

You are more vulnerable to price rises.
Yes, you are right. It probably doesn't matter much either way, but the experts in this field recommend leaving it open. Means you can still pay your bill while new supplier does the admin
This.

You could end up a month or two behind with a big hill to climb.

Meanwhile you piss the credit you had up the wall.

It’s bad financial management.
 
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yamar1

Striker
No but the credit in the account is protected.

You are more vulnerable to price rises.

This.

You could end up a month or two behind with a big hill to climb.

Meanwhile you piss the credit you had up the wall.

It’s bad financial management.
You are vulnerable anyway as you are getting moved to a new supplier, through no choice. How would stopping a direct debit to a company who is no longer trading stop a price rise when move to the new price cap?

Its happening weather you like it or not.
What if they owe you money though?

Only a fool? What are you implying, that they might clear your bank account out and flee to Brazil?!

I know where id rather have the money, until the switch is complete.

If you're happy, then happy days.
 
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lurker

Striker
You are vulnerable anyway as you are getting moved to a new supplier, through no choice. How would stopping a direct debit to a company who is no longer trading stop a price rise when move to the new price cap?

Its happening weather you like it or not.


I know where id rather have the money, until the switch is complete.

If you're happy, then happy days.
You’re taking a big risk imho. Ccj could be in the post
 

yamar1

Striker
You’re taking a big risk imho. Ccj could be in the post
Just seen this on igloos help page , seems it was a wise move to cancel the dd.






Will my Direct Debits be transferred?

No, once you receive your welcome pack, it will provide details on how to set up a Direct Debit with your new supplier. We would recommend doing this as soon as possible as it allows you to spread the cost of your higher winter usage.


Yes, you are right. It probably doesn't matter much either way, but the experts in this field recommend leaving it open. Means you can still pay your bill while new supplier does the admin
See above, direct from the horse’s mouth.
 
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Should I cancel my DD with Igloo? I had about £150 credit but can’t get in to my account not to confirm

I cancelled mine with Utility Point when they went bust.
Waiting for EDF to get in touch about tariff etc, but just keeping the money I’d have paid in a separate account for now until the whole mess gets sorted.
I’d rather it be in my bank than floating around somewhere.
 

lurker

Striker
Just seen this on igloos help page , seems it was a wise move to cancel the dd.






Will my Direct Debits be transferred?

No, once you receive your welcome pack, it will provide details on how to set up a Direct Debit with your new supplier. We would recommend doing this as soon as possible as it allows you to spread the cost of your higher winter usage.



See above, direct from the horse’s mouth.
Yeah they would say that, they want your money asap :D

That money is protected
 

yamar1

Striker
I cancelled mine with Utility Point when they went bust.
Waiting for EDF to get in touch about tariff etc, but just keeping the money I’d have paid in a separate account for now until the whole mess gets sorted.
I’d rather it be in my bank than floating around somewhere.
Thats the game. Id rather be looking at it, than for it.😎
 

Qwerty

Striker
It’s probably a good idea to build up a bit of credit with your supplier at the moment because the government will open the floodgates soon and bills will double overnight.
I underpay and put money away in an account to pay the balance off when the contract finishes.
For example we pay EON £80 a month and put £20 away in the account. Currently we're £150 in debt to them, always have enough in to cover any arrears. They keep asking me to increase the debit but I just ignore them.
 

garyswc

Striker
I underpay and put money away in an account to pay the balance off when the contract finishes.
For example we pay EON £80 a month and put £20 away in the account. Currently we're £150 in debt to them, always have enough in to cover any arrears. They keep asking me to increase the debit but I just ignore them.
We deliberately overpay with Ovo, set the DD years ago to £180 pcm. We get 2% cashback each month from Santander and 5% interest on the balance from Ovo upto a max of £1,000, earns us just under £100 a year, buttons really I suppose. Draw the excess out during the autumn which is usually circa £1k. It won't be next year though with the current prices!!!
 

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