Can I get car insurance to be paid monthly after an iva?

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Nikl

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Post by Nikl » Sat Oct 13, 2018 12:36 pm
I F&F settled my IVA last month and received my CC.

I have car insurance due in December along with my MOT. Is there any chance of me being able to pay my insurance monthly until I am financially more secure in a couple of months and then pay it off in full?

With Christmas and the MOT I’m worried about it. I’ve been driving many years but I only have one years no claims discount and it’s coming out at £600 plus for insurance.

Thank you

MerlinL14

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Post by MerlinL14 » Sat Oct 13, 2018 1:00 pm
I paid my car insurance monthly even when in my IVA so I can't see there being a problem, as long as your Ins company don't block it.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues

kallis3

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Post by kallis3 » Sat Oct 13, 2018 1:03 pm
I agree with Merlin - can't see a problem.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

Foggy

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Post by Foggy » Sat Oct 13, 2018 1:14 pm
I. also, paid my insurance monthly throughout my IVA.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Nikl

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Post by Nikl » Sat Oct 13, 2018 1:18 pm
That’s a relief. Thank you for your replies.

I’m a bit angry at myself as I don’t want to go down the pay monthly route but I think I need to for now to ensure I don’t overstretch myself

abbiesmum2003

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Post by abbiesmum2003 » Sat Oct 13, 2018 1:44 pm
We have always paid monthly for car insurance amd renewed it throughout iva. Made it much easier to budgrt for?
Why are you angry with yourself?

kallis3

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Post by kallis3 » Sat Oct 13, 2018 2:08 pm
We always paid monthly.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

Nikl

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Post by Nikl » Sat Oct 13, 2018 6:20 pm
abbiesmum2003 wrote:
We have always paid monthly for car insurance amd renewed it throughout iva. Made it much easier to budgrt for?
Why are you angry with yourself?
Because I promised myself that since my IVA has been cleared I would ensure I pay for everything in full to avoid racking up monthly expenditure and I’ve failed already.

Foggy

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Post by Foggy » Sat Oct 13, 2018 6:29 pm
Nikl wrote:
abbiesmum2003 wrote:
We have always paid monthly for car insurance amd renewed it throughout iva. Made it much easier to budgrt for?
Why are you angry with yourself?
Because I promised myself that since my IVA has been cleared I would ensure I pay for everything in full to avoid racking up monthly expenditure and I’ve failed already.
Because everything was budgetted for monthly in my IVA, 5 years on I still pay everything monthly and still live pretty much to the IVA allowances.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

abbiesmum2003

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Post by abbiesmum2003 » Sun Oct 14, 2018 8:58 am
Ih hun I dont think thats anything to be angry at yourself for.
Car insurance in one go is usually crazy prices and not many can afford to just find that money in one go and i imagine they probably save monthly during the year to have funds available to pay in one go. We just pay it monthly rather than try and save (which lets be honest would be spent at some point on something else if a need arose).
Wehave lived 5.5 years in iva and know dates things are paid and how much stuff is. i dont think that will everchange now even though its done.
Dont be angry with yourself for paying car insurance monthly. Its only a means of budgetting your funds. If you wamt to pay it annually than see if you can save up towards next years renewal and shop around for better deal. Things wont chamge overnight so give yourself a break
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