Energy Crisis – 100,000 join ‘don’t pay’ group - what should you do to avoid credit rating suicide?

As energy bills predicated to reach £4,000 per household and campaigners like Martin Lewis call for government action to stave off a national crisis, 100,000 people are threatening to cancel their bank direct debit payments to companies like EDF and British Gas.

A campaign group, dontpay.co.uk, has almost 100,000 signatures of people who say they will refuse to pay their energy bills or cancel their direct debit mandate from October.

Don’t damage your credit rating

Things to remember before you cancel payment plans:

· You have a contract

· Energy companies can issue late payment notices to credit referencing agencies and forcibly enter your property to instal a pre-payment meter.

· Risk of CCJ – County Court Judgement

· Poor credit history can last for 6 years.

· If you fall behind it will be difficult to catch up and pay the debt.

Banks not passing on the last 5 interest rate rises to savers!

See: video - https://youtu.be/5Z1DVXkCcfo to see what can you do to make more of your savings.

Make your money work harder for you…See: 6 Tips to get on the property ladder - https://youtu.be/F4spqKpYZo4

Learn how to get started as a first-time property buyer.

Open House South Herts is advertising property deals in the north of the UK from just £30,000 asking price with yields of between 10 and 15%. – see https://www.facebook.com/estateagentswatfordelstreeandborehamwood

A slowdown in the property market means more opportunities for buyers and investor!

Find out more about property investing.

You can learn the secrets of professional property investors who have built huge portfolios with other people’s money.

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