It’s widely known that missing payments on things like loans, credit cards and your mortgage can have an adverse effect on your credit rating, but did you know that missing a payment to your utility supplier could have an adverse effect on which tariff you’re on?
In these days of rising living costs, all but the most affluent of us are trying to find the elusive cheaper deal. Our utility bill is one area in which there is potentially a lot to be saved, but because of either bad timing, forgetfulness or simply not being able to afford it at the time; many of us are forfeiting our right to cheaper gas and electricity.
Under current legislation, any money which a supplier of utilities is owed becomes an automatic debt after 31 days. This means that if you are late paying your bills and wish to switch suppliers before you’ve paid the money, your current provider can refuse to release your meters.
It’s a vicious circle; you want to switch suppliers because you can’t afford to keep with your current one, but you can’t leave them until you’ve paid the bill which you can’t afford. With unit prices for both gas and electricity rising at an alarming rate, many householders are desperately seeking the cheaper providers, only to be told that they can’t move on until their debts have been settled.
The only way to avoid this problem is to pay your bills on time, and take avoidance action if you’re using more than you can afford. During the summer it’s quite easy to save on gas and electric; use this time to save up some money to clear your bills and switch to a cheaper supplier in time for winter.
With the price of utilities soaring, finding cheap electricity and gas can seem like mission impossible, but it can be done. You can compare both electricity and gas suppliers online to find the best unit prices available in your area. Article Source
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