Home insurance payout for storm damage, do I tell IVA?

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cbdawg
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by cbdawg » Thu Mar 01, 2018 7:03 pm
Hi All

As the title says, I am due a cheque from home insurance company for storm related damage caused to my roof. Do I need to tell the IVA company? The amount equals the quote a roofer gave me, therefore no monies will be going in my pocket.

Thanks in advance
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Foggy
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by Foggy » Thu Mar 01, 2018 7:30 pm
In my feeble mind it is a payout to fund specific repairs which, in their turn, protect teh creditors interest in the property (equity) so it should be allowed. Do you need to tell is a difficult question --yes, you should mention these things to avoid any nasty surprises .... as long as you have a sensible IP. If you have a blood sucker (and, with all due respect to those IP's who help clients, there are a few out there), you could end up without the repairs !

Could you get the insurance company to pay the roofer direct ?
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kallis3
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by kallis3 » Fri Mar 02, 2018 9:19 am
I think you should be allowed to keep that for your repairs. Send your IP your quote and that you need this money to get your repairs done.
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MerlinL14
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by MerlinL14 » Fri Mar 02, 2018 4:44 pm
Hopefully your IP has a degree in common sense? If you have a quote and can prove that the insurance is just to cover the total costs and not an exaggerated fee then there is no reason that they will see the income from the insurance is going straight out to a builder. Personally I don't believe you have anything to worry about as it is pretty cut and dry.
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Foggy
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by Foggy » Fri Mar 02, 2018 4:59 pm
I agree with Merlin --- however, when I started my IVA, we were "clients", there were customer service standards and I have gradually become increasingly jaded towards many a firm. I am allowing my doubts too much space !
cbdawg
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by cbdawg » Fri Mar 02, 2018 7:34 pm
Thanks all. It would be very unfair of them to demand the money, seen as my roof is leaking and the interior is damaged, along with the standard amount allowed for home maintenance wouldn't even touch it. I will now try and find some IP contact details for creditfix and keep my fingers crossed.
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kallis3
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by kallis3 » Sat Mar 03, 2018 12:13 am
Hopefully they will see sense.
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