He says anyone thinking of cancelling should be prepared to pay more
Martin Lewis has issued a warning to everyone paying their energy bills by direct debit during. The money guru appeared on ITV This Morning where he shared that direct debit is still the cheapest way to pay for gas or electricity bills and anyone thinking of cancelling should be prepared to pay more.
“I tend to say if right now you have a month or two worth of direct debit in credit - so let’s say if your bills are £300 a month - if you’ve got £500 of credit that’s probably on the high side. So unless your direct debit is over £1,000 a month, which is unlikely but does happen, it sounds like you are too much in credit.”
Mr Lewis also said that telling the company before making the complaint to the ombudsman might prompt them to make the refund. Josie also asked Martin if cancelling the direct debit was an option to which Martin replied quickly with an emphatic “no!”
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