Help, what should i do? gas bills?

Question

i was overcharged I hadnt given a reading in a while as i had been away a lot, then ill, etc. but i called up today with my meter reading and it turns out from their calculations i am £490 in credit, and calculated my monthly payments to be £10 rather than £49. Anyway, she said they could refund all £490 to my account and either set my bill to £10/month or set it higher (£20? etc) so i dont go into debt (as potentially I had been away a lot during that time period (altho i was here last winter&used my normal amt of gas then, i was away the previous winter & altho the heat i think was on during that time low so pipes didnt freeze it wasnt cranked up). anyway, my next meter reading is in december so even if my usage sky rockets, it will be caught then so my bill doesnt go into major debt.. the options r:

1. take back all or some of the £490 (& leave some invested as a buffer)? how much?

2. change bill to £10 (or more) & give next reading dec.

how much?

Answer 1

Paying by directr debit will save you money of course but because the way prices are going you might want to think about comparing providers to get abetter deal. Have both gas and electric bills under one roof. WWW Martinlewis.com or comparesupermarket.com

I would take the money as if you do decide to change suppliers you may have a problem getting the money back.

Be strong minded and set that money aside for a your next set of bills. That will be a weight off your mind knowing that you have to money to pay them.

Answer 2

The answer from ascoile is absolutly spot on. If you have the disipline to follow it, your half way to remaining solvent

Answer 3

Money is better gaining 6 months interest in your account than in the gas company's account.

However if you can't trust yourself not to spend it then I guess you want to leave it with them

If you do leave it with them then just keep your payment at £10

If you take the money and invest it to get interest then you can still keep it at £10 because you will have the £490 PLUS interest to pay towards the bill in December