Loan protection - is it a complete waste?

2 posts Page 1 of 1

Drowning Fast

User avatar
Posts: 22
Joined: Mon Dec 31, 2007 9:18 pm
Location: United Kingdom

Post by Drowning Fast » Thu Jan 31, 2008 9:08 pm
As our loans were all protected, why is it that these can't protect you when you have a reduction of income?

The payments are very high and now when you need the help it appears that you have wasted your money and would have cleared the debts in half the time, and probably not got in this situation.


User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am

Post by MelanieGiles » Thu Jan 31, 2008 10:15 pm
Because that would be a very difficult cover to underwrite, as it does not relate to a specific change in circumstances and would be subject to interpretation.
Regards, Melanie Giles, Insolvency Practitioner
2 posts Page 1 of 1
Return to “postings for january”