www.iva.co.uk

Just had a horrible thought. just renewed our home insurance and paying monthly by direct debit, and wanted to do the same with car insurances and tv licence, are we okay to do this on an IVA? Its not classed as credit is it?

Not really - it is generally accepted that you will pay these things by instalments - just like council tax and water rates.

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

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

Hi
This type of "credit" is loaded in such a way as that you never owe money.The deposit that you pay initially keeps the payments ahead of the actual amount due from use of the product.If you miss a payment they simply cancel the insurance and you owe nothing[they will infact owe you a few pounds,usually]
Hope this helps
regards

Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

View my profile here:
http://www.iva.co.uk/andy_davie_profile.asp

Hi Baz,

It is always worth checking whether your Insurer regards your being in an IVA as a “material fact”. You are always required to disclose these, but Insurers do not define what they are, although many claims are rejected every day on the grounds of “non-disclosure”.

Be safe, disclose, and make your Insurer confirm to you that you have done so, and that your insurance contract is not affected by that disclosure.


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

Will I be able to pay for my car insurance in instalments as I'm bankrupt? It's not a problem at the moment as it was paid in full, but I am worried that I won't be able to get insurance if I have to declare I'm bankrupt.

Onwards and upwards!!!

View my blog at http://skippy13.blogs.iva.co.uk/

Yes Skippy - you can carry on with that, but John's advice si good as you would not want any claims to be affected if you have an accident.

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

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

Hi
I am sure that Johns valid point relates to bankruptcy only and not IVAs unless it is specifically asked for.I think that we need to clarify this point so that we do not alarm forum members.
regards

Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

View my profile here:
http://www.iva.co.uk/andy_davie_profile.asp

I phoned my insurance company (Churchill) tonight as I was worried that my insurance might be invalid. I paid in full last year, so Churchill said 'aaaah yus' (sorry, just seen the advert!) and my insurance is fine!

They did say that I wouldn't be able to pay in instalments next year as I am bankrupt. Great, more borrowing off Dave or a family member as I haven't got a hope of getting the money together by July as I've got to pay my mum for the car service!

Onwards and upwards!!!

View my blog at http://skippy13.blogs.iva.co.uk/

Whether or not you can pay in installments after you have become bankrupt is up to the individual insurance company.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

In which case Skippy it might be worth phoning round companies to see if they offer instalments. As we are finding with these things it might be slightly more expensive but saves finding a lump sum

Dave

I will do that Bear, but at least if I can't (or they hike the premium up with me being such a risk!) my uncle has said he will lend me the money and I can pay him back. It's not for a couple of months, but I thought I wouldn't spring it on him!



Onwards and upwards!!!

View my blog at http://skippy13.blogs.iva.co.uk/

Andy,

As a major part of my work, I make decisions on whether or not to grant accident and sickness cover on the basis of information supplied by Clients on their application forms. I assure you that disclosure of can only bring positive benefits to Forum Members, non-disclosure only ever brings problems.

Forum members should not be frightened of disclosure, it will not affect their insurance cover at all. Whereas non disclosure if detected at time of claim will certainly mean non payment of the claim, and complete wastage of all premiums paid.

Non disclosure means you think you have insurance when in actual fact you don’t. if you are ever in doubt whether a fact is material, disclose it and put the onus on to the Insurer, who has then given you cover in full knowledge of your disclosure.


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

Hi
Ok I take your point and its really something that should have been raised a long time ago.I for one have had various insurances and had never disclosed that I was in an IVA because I was never asked that question.Are we talking about any type of insurance ? i;e car,holiday,pet,life etc etc.??
Regards


Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

View my profile here:
http://www.iva.co.uk/andy_davie_profile.asp

Andy I was just wondering the same as I have various accident ,household insurances that I had for years before the iva, surely if you make the payments it should not change anything.
Ang

Coveritall is correct. You should disclose the IVA or the bankruptcy in the unfortunate event you need to file a claim. Read the terms and conditions of the insurer. There are insurance companies for buildings and contents insurance that will indeed provide cover for bankrupts and IVAs. If in doubt, check it out.

All I have left is my humour.