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sazkat2
Junior Member
United Kingdom
182 Posts |
 Posted - 16 September 2008 : 16:45:03
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Hi thanks for all the help I have been given. I am confused and need some help. I have my BR hearing on Thursday and am trying to sort out my bills. I have my car insurance go out by direct debit every month. Does this need to go on the unsecured credit section of the forms as I have a credit agreement? If I get to keep my car will this get written off - as if it does I will not be able to insure my car. I have call the insurers today and they will not take any payment apart from direct debit or paying it off in one lump sum which I cant afford. Feeling upset with it all!!!!!!!!
Thanks for any help
Sarah |
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maizie
Average Member
United Kingdom
566 Posts |
Posted - 16 September 2008 : 16:49:11
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As far as I am aware car insurance isn't credit because you pay in advance, basically if you miss a payment you aren't insured so it doesn't need to go on your bankruptcy forms.
Maizie |
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sazkat2
Junior Member
United Kingdom
182 Posts |
Posted - 16 September 2008 : 17:06:31
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Hi thanks for your help. I have just looked at the car insurance forms and it does say it is a credit agreement with interest payable so not sure what to do still!! Thanks for your reply though :)
Sarah |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 16 September 2008 : 17:10:07
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Hi like Maizie has said its a different type of credit agreement, it does not have to be added in.
Take care
Jo x
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
For links to help with Bankruptcy, useful web pages and also a run down of my new debt free life, both before and after Bankruptcy, then please visit my blog:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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maizie
Average Member
United Kingdom
566 Posts |
Posted - 16 September 2008 : 17:10:42
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I don't think you put it on your bankruptcy forms, I don't honestly think it could be credit because bankrupts wouldn't be allowed it if it was. And I definately know that if you miss a payment you aren't insured so you do pay in advance. Maybe someone else can help?
Maizie |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 16 September 2008 : 17:15:36
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Hi Maizie
You are right. The only way as a bankrupt you may have trouble is if like me you shopped around just after BR to get a good deal, we then found that they did a credit search on us and we could not get the insurance on a monthly basis and it had to be paid in full, this was our own doing as we wanted a better deal, only then to realise that car insurances are subject when starting from fresh to a credit search.
Oh well at least ours is done for the year.
And no it does not get included into the BR as far as im aware.
Jo x
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
For links to help with Bankruptcy, useful web pages and also a run down of my new debt free life, both before and after Bankruptcy, then please visit my blog:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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Car insurance question
