experts would my car insurance be affected too

[razamataz_]

As i pay by monthly installments for car insurance and need due rural etc would this be affected?

If someone on benefits would the new basic a/c be closed even tho' no credit probs apart from DDebits that are in credit

raza[88]

[MelanieGiles]

No - your monthly insurance payments will be disaffected by a voluntary arrangement.

Don't understand the second point. Sorry - Friday afternoon I must be getting tired. Can you clarify please.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
View my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[razamataz_]

Hi Melanie-sorry i wasn't very clear[8~2]
I meant for bankruptcy, and secondly as i already have a new basic bank a/c would O.R close that too, and also would all accounts that are not credit based with banks and building societies i.e very basic ones need to be declared apart from the one that has benefits paid into and direct debits paid from, for utilities that are up to date, and one payment for two sofas that are interest free as only low payment of £25 pm and only one year to pay on it. Also car insurance is credit based isn't it if paid in monthly installments?

No - your monthly insurance payments will be disaffected by a voluntary arrangement.

Don't understand the second point. Sorry - Friday afternoon I must be getting tired. Can you clarify please.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
View my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[Skippy]

I could be wrong (and I'm sure someone will correct me if I am!) but I thought that insurance wasn't actually credit, as you pay 1 month up front, and then if you don't pay the company stop your insurance.

Three down, fifty seven to go until freedom!

[razamataz_]

I could be wrong (and I'm sure someone will correct me if I am!) but I thought that insurance wasn't actually credit, as you pay 1 month up front, and then if you don't pay the company stop your insurance.

Three down, fifty seven to go until freedom!

Hi Skippy-well on my agreement for car insurance, it is being done thru and insurance broker, and it states credit agreement and no nothing to pay up front as it is a continuation from a year ago, just it budgets the cash to do it in monthly installments, its maybe a different type of credit-if anyone knows for certain out there[(#)]

[Oliver]

Although things like Insurance, TV Licence and Mobile Phone Contracts could somewhat be construed as credit as you are spreading the yearly cost of something over several months, these are not construed as credit in an IVA and as long as you reasonably require a car, phone etc... then you will be allowed to pay these costs monthly.



Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[Skippy]

I wouldn't worry too much Razamataz. As Oliver mentioned mobile phones made me think - I upgraded my mobile phone before Christmas with no problems, and when I rang Vodafone to complain about something they added on some freebies to my tariff as they wanted to keep me as a customer! What I am trying to say is I don't think they look too closely, providing you don't owe them any money.

Three down, fifty seven to go until freedom!

[razamataz_]

Thank you Oliver[88]
Would this apply same in Bankruptcy?
best regards
raza[:D]

Although things like Insurance, TV Licence and Mobile Phone Contracts could somewhat be construed as credit as you are spreading the yearly cost of something over several months, these are not construed as credit in an IVA and as long as you reasonably require a car, phone etc... then you will be allowed to pay these costs monthly.



Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[razamataz_]

Ta Skippy13
Nice to know they want custom (ours) in particular[(#)] not sure it would apply same in bankruptcy[:)] lets hope an official receiver is as lenient[|)]

I wouldn't worry too much Razamataz. As Oliver mentioned mobile phones made me think - I upgraded my mobile phone before Christmas with no problems, and when I rang Vodafone to complain about something they added on some freebies to my tariff as they wanted to keep me as a customer! What I am trying to say is I don't think they look too closely, providing you don't owe them any money.

Three down, fifty seven to go until freedom!

[Oliver]

Yes in bankruptcy you will still be able to pay your car insurance in installments.



Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp