I am considering starting an IVA - does this mean that next year's car insurance,house insurance, boiler insurance, sickness and life insurance etc. (currently paid by installments and all up-to-date)will all have to be paid up front in single lump sums?
Thanks for any advice
It will be up to individual insurers to make those decisions - but in my experience most of my clients seem to be able to carry on paying via instalments.
I've only been in our iva for almost a year but in that time we've changed our car insurance & renewed our house insurance within that time. Both allowed us to pay monthly direct debit without any problems. All others continued as usual. I have seen posts on this forum where some companies want full amount upfront. I suppose it depends on the companies you use. Ours were straight forward. Our house insurance was just a renewal but the car insurance was a new policy.
Hope this helps
Admiral refused me for contents insurance last month...they took over the company I originally insured with and when it came to renewal I had to ring up and got refused because of the IVA. But my car, house & life insurances I pay monthly and always have and I'm just over the 2 yr mark. Needless to say none are or ever will be with Admiral IVA question or not..they have burned their bridges on that one.
That seem a daft policy for Admiral to take. They are a local company to me in Cardiff, so I will try and arrange a meeting with one of the BDMs there to find out why they have such objections. Thanks for sharing that information with us isseymyake.
Admiral did inform me they don't ask the IVA question for car insurance (I thought rather odd seeing as car insurance premiums are tend to be much higher than contents premiums) Just another bit of info someone passed onto me recently about Admiral..if you are caught speeding but attend the speed awareness course you don't need to declare it for insurance because you don't get the points on your license. BUT Admiral have recently been asking if you have attended any of these courses and upping their premiums!!! Needless to say they are losing customers big time and the police are kicking off because of this as it defeats the object of them trying to educate people about the dangers of speeding. If they insurance premiums are going to go up anyway then nobody will attend them anymore. Think Admiral need to have a re think!
Thanks everyone for your advice and comments - while looking for solutions to my debt problem ( a consolidation loan - I know, I know ! ) I was contacted by Gopher Money who advised me that an IVA was the best solution and that their partner company GIVA Financial Solutions Ltd would be able to sort this.
They asked for my debit card details over the phone and have posted me a flashy looking folder with all the info in and forms for me to complete. Is this standard practice ? has anyone any dealings with this company ? Any help greatly appreciated.
Why would they need your debit card payments at such an early stage of the process? Did they advise you about all of the options available to you, or just an IVA when I assume your loan application was declined. I would try and have a chat with one of the IPs there directly, to make sure you fully understand your options and to enable you to make the right choice for the future.
Generally this sort of chat occurs prior to the sending of documentation, but there is nothing wrong with doing it the other way round.
Hi Andy.nn. Just go with Melanie Giles's company. I unfortunately am not with her as I only found this site after I had signed up. But if I had my time again I would definitely go with her as I have been on the forum well over a year now and there is nothing but praise for her and her staff. Good Luck and don't sign anything til you have at least considered your options.
