Deposit letter gets BGE bad publicity
BGE told WBAL it changed how it notifies late-paying customers about security-deposit requirements. When you miss a few bills BGE can seek a deposit, which seems kind of perverse. As a credit-risk tool I wonder how effective it is. Seems like the time to seek a security deposit is when the customer is solvent, not when s/he's already missing payments.
BGE told WBAL it used to notify customers about the deposits by phone and bill messages, not by separate letters. Seems at least like the new method is getting people's attention. WBAL:
Harriet Sellman said she recently received a letter from BGE that made her angry and sick, saying she isn't sure how she is going to pay the extra money the company is asking for in the form of a security deposit.
"They decided we needed to pay a $532 security deposit which they estimate is two months of our estimated service costs," Sellman said. "I have been late. We're trying very hard to make do on one paycheck right now."