www.iva.co.uk

Hi, there is loan protection on one of the loans me and my partner have. We have written to them twice to cancel this and it still hasn't been done. If we get an IVA will the loan protection amount be included in whats left of the loan or will it just be the the loan amount plus interest?

Hi again Kelse

If you are entitled to cancel the insurance policy, and you have given the appropriate notice to the creditor in writing (keep copies of this as evidence and recorded delivery is better), the the outstanding premium should not form part of the agreed claim within the IVA.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Hi Kelse,

Hope you manage to get this sorted. I don't really know if this is relevant to you but my sister's fiance currently has loans with Yorkshire Bank and has their payment protection insurance on them both. The repayment are crippling him and he is currently in arreas, the insurance itself makes up a substantial amount of the monthly payment. He asked for it to be cancelled but he was told that he can't because he's had it for longer than 6 months!! It just doesn't make sense.

Get him to read the small print of the policy to be sure!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

If you have not resolved this yet, I would be happy to read the policy wording and confirm to you what your options are. Just fax or e-mail the wording to me.

John Tegg
Accident and Sickness cover that pays for up to 60 months for Clients within IVA's.
Tel: 0845 673 9999
www.asu4iva.co.uk