I was asked if I had entered an IVA in the last 12 months when I changed to m&s insurance. I am in scotland where IVA's dont exist,but I am in a formal insolvency but if they dont ask the right question then tough!!
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi
Thanks for the replies. Well it still is not resolved yet but it appears that because the monthly instalments option has to be credit checked, it is this which is causing the declines. Obviously due to the circumstances our credit score is rubbish and so the vicious circle, so I am unable to explain why some of you have managed what it appears I can not? The stupid thing is that if I miss a payment I would invalidate my policy so they loose nothing, its not like I have defaulted on a loan after taking the cash?
Its a real kick in the teeth after thinking we were starting to make some head way
How many companies have you tried Pauline? I've not moved my car insurance recently but have taken out new pet insurance with no problems at all.
Just keep trying various companies. As Andy said, you could take a payment break, pay upfront for insurance and then either pay extra each month or tag it on to the end of your IVA.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Perhaps contacting a broker may help? Not sure on this as clearly you dont want to be making 72 attempts at getting insurance for credit checks to hold you back everytime.
Our new home insurance with endsleigh involved a credit check and a credit agreement being signed which I expected to cause issues but it hasnt so far!! And they took a payment 3 days ago so all looks ok.
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
A few insurance companies will not accept people in an iva. Fun for one. The underwriters say they are more at risk of making false claims. Damm cheek. Luckily it is only a very few. I insured with RAC through quidco and even got 80.00 cash back
I pay mine monthly and got mine through a price comparison website. I recently changed to KwikFit which has pretty good break down cover with it too. There weren't any problems being accepted and this is my second year of changing whilst in an IVA
Some insurers do not run credit checks. I beg to differ about paying for a monthly service and that you can cancel after a month and owe nothing. This may be the case with some insurers but that is certainly not the case with others. If you are within the first year of insurance some companies will charge you short period rates, so you may owe more than your monthly instalments should you cancel mid term. Most insurers will only charge pro rata cancellation rates for subsequent renewals and may add a further cancellation charge. Insurance policy booklets will state the cancellation scales. Always worth checking as you don't want to wind up with an unexpected bill, some companies will charge you the full annual premium after 6 months if you cancel early.
It's been a long road getting from there to here but it's been worth it!
My insurance is a 12 month contract with break penalties too. I think that's why some credit check...they offer 12 month contracts rather than rolling one month contracts. Irrespective...neither diamond nor admiral had any problems offering me insurance with my iva on file. RAC also gave me breakdown cover on a monthly payment and they do insurance too.
I've recently just renewed my car insurance & I'm with a broker called motor direct that searches the market to find a the cheapest policy that right for you each year. My previous insurer turned up higher than another one so I was given the choice to swap which I did! I've had no problems & was informed that the new insurer may run a credit check, but the finance company whom takes my payments each month remained the same.
My home contents insurance is done through Swinton & they have changed my insurer every year without a problem x
Final IVA payment made in April 2013, never ever thought we could do it or get through it but we did! X
An IVA.co.uk Mentor is someone sharing from their experiences of dealing with debt
Another interesting point is that every time you use a price comparison site quite a few of the insurers tend to do credit searches (mostly on experian). This is only at the quotation stage! RBS group which includes Churchill and privilege, Halifax including esure and Aviva all searched me. I guess the other ones like admiral, Hastings, coop, do not. Pauline you may have better luck with one of the companies others have mentioned on here. How many places have you tried? Also if companies refuse you monthly policies they may also refuse you annual policies. Its nothing to do with the monthly instalments, they think cause we're in an IVA we are more likely to put in a fraudulent claim. I don't personally see how they make the link and think it should be outlawed. Having an IVA doesn't make you dishonest!
"Just when you think that you can make ends meet, somebody moves the ends."
