FabSwingers.com forum: Dontpayuk

By *inkylad69 OP Man
over a year ago

bellshill

Iv posted this in the other forum but as might get lost Amongst all the other messages just wanted to stare this thread just so it’s at the top of the thread incase it can help anyone.

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For anyone considering this please don’t just jump on the band wagon hoping this will force or bring change. This might be the only option for some people who have no choice however if you have a choice please consider the unchangeable damage this will bring to you for the next 6 years!

Energy providers report you successful and unsuccessful monthly payments to credit reference agencies so missing payment as this movement encourages “might” cause change to help the worse off more by energy company’s it itself will have no impact on the governments policy making ether way but it will definitely hurt your credit file.

Having these missed payments on your credit file can have bigger consistencies than some people realise as this will follow you for the next 6 years and the reason for it will not matter to anyone you apply for credit with! This could mean you might get rejected for borrowing weather that is a credit card, loan, mortgage, bank account or car finance just to name a few and even if you are still accepted you will be categorised a higher risk customer so for that 6 years you will pay a higher interest rate than you would have before which specially on larger things such as loans, mortgages and car finance can result in paying thousands more.

Your decision will not only impact yourself it will also impact anyone you share credit with so if you share bank account or credit related service with say partner, parents, children which can be common just understand your decision will have the same impact on there credit file as you are linked together so if ether of you have negative markers like this placed on you it will be placed on them also even if they are not named on the account with the energy supplier. Even if you don’t share accounts or credit with anyone it can put a black mark on the address itself where as long as you live there anyone else under that address will still get impacted when there address is checked

But like I said this is a personal choice and those who simply can’t afford it will have no choice and this is the best or only option they have there is no shame in that but for those who potentially can afford it and my just be an inconvenience as would need to dip into savings or cut but on luxuries then please make the decision with a balanced view of positive and negative outcomes of your decision.

A lot of people might know all of this and don’t intend to come of as condescending ect I just know there are a lot of people that maybe are not a clued up on this type of thing and just wanted to make this point incase it can help even 1 person