I am new to the site so have taken some time to have a look through some of the blogs. A thought occurred to me as I was reading...almost all my debts were covered by a Payment Protection. Are the IVA supervisors able therefore to claim this insurance to set against the debt?
MelanieGiles wrote:
No - the insurance probably only covers you for accident, sickness and unemployment, and not financial difficulties.
Yes unfortunately Melanie is correct. I would also mention that many of these payment protection schemes are pretty bogus at best, and reading through the small print, can often only cover you in very strict conditions. There was a report about this recently regarding claims that these are very often overly expensive and offer little of the protection they claim, in fact claiming them back is becomming a lucrative business!
One of the experts on here - Coveritall (his details are under the expert link on the left hand side of the page), provides all sorts of insurances and I've not heard anything bad about them.
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
kallis3 wrote:
One of the experts on here - Coveritall (his details are under the expert link on the left hand side of the page), provides all sorts of insurances and I've not heard anything bad about them.
I was referring specifically to payment protection schemes on unsecured loans, which have recently been receiving bad press.
Apologies - hadn't quite grasped the subject properly!
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
