will not be protected from the consequences by “safety in numbers”, legal and financial experts have said.could leave them at risk of being cut off from their energy supply and building up a negative credit score.– which could soar to £4,000 in the new year – to avoid consumers cancelling their direct debits en masse from 1 October. It claims that 75,000 people have signed up to the campaign so far but is aiming to get one million on board before taking any action.
Mr Rycroft, a partner at Joseph A. Jones, warned energy companies could pursue debts in county court where a judgment could negatively impact an individual’s credit rating. “The courts system will become overloaded with claims against billpayers and therefore other legitimate legal procedures will grind to a halt.”
“People’s credit ratings may well be affected… that has a disastrous effect on borrowing, credit, mortgage applications for years to come.”
Worth it
Like when you can’t afford to eat and heat your credit score is at the forefront of your mind.
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