paying car insurance monthly classed as credit?

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jordanb

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Post by jordanb » Mon Jul 30, 2007 8:29 pm
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I know that I am not allowed to get any form of credit during the period of my iva. Please could you advise whether or not paying for car insurance monthly would be classed as credit or do I have to pay it in one full sum? I know it sounds daft but I would hate to break the terms of my iva over something so silly.
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aguise

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Post by aguise » Mon Jul 30, 2007 8:42 pm
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Hi Jordan
It is not classed as credit because you are always paying in advance so if you dont pay they can cancel it. You always have to make a payment beforehand so you will be ok. Not a daft question lots ask the same .

Ang

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Please visit my blog at http://aguise.blogs.iva.co.uk/
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iva experts

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Post by iva experts » Wed Aug 01, 2007 1:18 pm
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Welcome to the Forum Jordan!

Paying car insurance monthly would not be classed as taking out credit. Almost all cases that I have seen in my experience have a car insurance provision on the monthly expenditure as it would be incredibly hard to pay this up front.

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Oliver

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Post by Oliver » Wed Aug 01, 2007 1:20 pm
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This is not classed as credit and is perfectably acceptable in an IVA.

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Oliver

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Oliver
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