Can an insurance company find out about my IVA?

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hove123
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by hove123 » Thu Jul 19, 2018 2:16 pm
I formally completed my IVA in 2001 & haven't given it another thought until I've just seen a question on my home contents insurance (Admiral) cover "Declared Bankrupt or received an IVA?" which I must have answered No when the policy was taken out a few years ago.

I'm paranoid about insurance companies nitpicking & refusing my claim if I ever had a big claim & wouldn't want to jeopardise this, but also don't want to give them ammo they may not know about bearing in mind how long ago my IVA completed, which was likely done all on paper before the online days.

How easy may it be for insurance companies to find out about my IVA if they were looking for a reason to refuse my claim?
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kallis3
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by kallis3 » Thu Jul 19, 2018 2:27 pm
It shouldn't be showing anywhere after all this time so I think you will be ok.
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Foggy
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by Foggy » Thu Jul 19, 2018 2:57 pm
I would like to agree with Kallis -- but I have always had a nagging feeling that there are records / archives available to the chosen few which go beyond the statutory records. The fuel for this nagging doubt ? : that claims companies going after PPI claim to be able to go back 35 years, without paperwork, to find old loans ......How ?
normanna
Posts: 12
by normanna » Thu Jul 19, 2018 3:11 pm
Foggy wrote:
I would like to agree with Kallis -- but I have always had a nagging feeling that there are records / archives available to the chosen few which go beyond the statutory records. The fuel for this nagging doubt ? : that claims companies going after PPI claim to be able to go back 35 years, without paperwork, to find old loans ......How ?


This is incorrect. PPI companies will take a scattergun approach and contact many different lenders asking if there was PPI. They have no magic formula in finding old loans.
normanna
Posts: 12
by normanna » Thu Jul 19, 2018 3:28 pm
hove123 wrote:
I formally completed my IVA in 2001 & haven't given it another thought until I've just seen a question on my home contents insurance (Admiral) cover "Declared Bankrupt or received an IVA?" which I must have answered No when the policy was taken out a few years ago.

I'm paranoid about insurance companies nitpicking & refusing my claim if I ever had a big claim & wouldn't want to jeopardise this, but also don't want to give them ammo they may not know about bearing in mind how long ago my IVA completed, which was likely done all on paper before the online days.

How easy may it be for insurance companies to find out about my IVA if they were looking for a reason to refuse my claim?


You are taking a risk as you have made a false statement saying you have never had an IVA (if that was the question). If they found out they would entirely be within their rights to refuse payout and then cancel your insurance. Entirely up to you what you do going forward and how uneasy you feel about them finding out. if it is was me I wouldn't take the risk to save a few pounds.
hove123
Posts: 2
by hove123 » Thu Jul 19, 2018 9:49 pm
normanna wrote:
You are taking a risk as you have made a false statement saying you have never had an IVA (if that was the question). If they found out they would entirely be within their rights to refuse payout and then cancel your insurance. Entirely up to you what you do going forward and how uneasy you feel about them finding out. if it is was me I wouldn't take the risk to save a few pounds.


I could ring the insurance company to clarify exactly what the question means, as it may mean only if that you are currently in the middle of an IVA or bunkruptcy, but I don't want to alert them to something they probably don't need to know!
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