I am glad that I haven't had to go there, but I can sympathise with people who have - who knows what the future holds.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
under the current climate its frightening pre payment meters would be fine to help people budget if the rates were equal but at the moment they are just ripping people off in my opinion.
I agree - prepayment meters have always been a ripoff. I had a friend, who needed a prepayment on the TV for a time. They were charged a fortune for that.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I beleive thier are moves to bring the prepayment rate in line with quarterly bill prices, my concern is that the pre-payment meters can claw debt back and even if the debt is included in the IVA how does the consumer know that the utility company is not getting the full amount back by clawing more back through the meter.
IVA.co.uk The best place for debt advice. Thanks to Melanie Giles, David Mond, David and J (Elv5) Kallis, Dand, Skippy, Andy Davie
I agree that some consumers won't know, and the companies are obviously banking on this. It needs people who are a bit more savvy to question the charges made on a prepayment meter. The company should not be clawing back any arrears at all if they are included in an IVA. They are breaking the rules of the IVA if they do that, aren't they?
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
as far as i am aware the pre payment meters can be regulated from head office so if arears are included in a iva the meter could be adjusted accordingly the meters are user frindly so you can check your debt balance etc.
Michael Peoples wrote:
It does seem crazy that if you pay up front you pay more than someone paying by direct debit in arrears. i suppose the companies would argue that the meters cost money and the Post Office takes a cut but it still seems to me to be penalising those on low incomes or with impaired credit histories.
direct debit is not tehnically in arrears as you are paying in advance of being billed... the energy industry works on actual readings. If you have a pre payment meter then you are providing a reading each and everytime you use a unit. Smart metering should really tidy up the energy industry as the whole process of the calculating useaage across the grid takes 18motnhs from the date of use! Mind blowing! (sorry for the geeky stuff... i used to run an energy bureau)
quarterly demands are a true arrears way of billing.
I too could not move from Eon until my account was settled, the transfer was refused over a silly amount of money... circa £10. But then when it was settled, the transfer was taken back to the original date when meter readings were provided.
Last edited by Adam16 on Thu Jun 25, 2009 10:47 pm, edited 1 time in total.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
this is guna make me sound old but i can remember my dad putting 2 bob in the meter and it would last all day how good was that regardless of wages.[:)][:)][:)][:)][:)][:)]
Last edited by MRBLUESKY on Thu Jun 25, 2009 10:54 pm, edited 1 time in total.
We must have been posh - I don't remember us having a prepayment meter at all![:D]
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I can remember when I was small the meter took 50p's but my Mum had got it set too high so that when it got emptied there was always a few quid coming back her way(which meant we all got a little bit extra pocket money!!).
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
I can remember my mum putting 50ps in the gas meter! A couple of times when we've been on holiday we've had metered electricity and I'm so tight now it was touch and go whether it would last the final day but I wasn't putting any more in unless I had to!
