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Posted: Mon Jul 30, 2007 8:29 pm
by jordanb
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.
Posted: Mon Jul 30, 2007 8:42 pm
by aguise
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
Please visit my blog at
http://aguise.blogs.iva.co.uk/
Posted: Wed Aug 01, 2007 1:18 pm
by iva experts
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.
Best Regards. IVA Experts
Posted: Wed Aug 01, 2007 1:20 pm
by Oliver
This is not classed as credit and is perfectably acceptable in an IVA.
Best Regards
Oliver
Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at:
www.thomascharles.com/about_us.asp