Bankruptcy declaration.

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gst
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by gst » Sat Aug 25, 2018 5:45 pm
We finished our IVA five years and rebuilt our credit score. It now stands at 996 on Experian.
My problem is when I’m filling in forms on Go Compare etc websites for insurance, they ask if anyone has ever been declared bankrupt. I put ‘Yes’. Am I correct? It makes our insurance more expensive.
Thank you.
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Foggy
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by Foggy » Sat Aug 25, 2018 5:52 pm
If it says "ever" then "yes" is the correct answer, However, this is a blanket question on a comparison website .... going direct and the insurers might not even ask the question, or might couch it in different terms.

Edit: Apologies -- my reply refers to bankruptcy. If you were in an IVA and they ask about BR, it doesn't apply. As others have said, an IVA is not bankruptcy.
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MerlinL14
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by MerlinL14 » Sat Aug 25, 2018 9:00 pm
"declared bankrupt" is a no. An IVA is not Bankruptcy. Insolvent yes, bankrupt no.
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kallis3
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by kallis3 » Sat Aug 25, 2018 9:20 pm
IVA is not the same as as bankruptcy so, unless it specifically states that you should be ok.
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