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  • FIRST POST
    • twigletsmum
    • By twigletsmum 8th Oct 17, 10:03 PM
    • 5Posts
    • 4Thanks
    twigletsmum
    IVA/Home Insurance/Car Insurance
    • #1
    • 8th Oct 17, 10:03 PM
    IVA/Home Insurance/Car Insurance 8th Oct 17 at 10:03 PM
    Hi all, Iíve been a lurker on the board for some time now and thought it was about time I contributed and ask some advice considering Iíve seen some amazing advice being given out on this forum to others! Thought Iíd give you all a bit of history first so you know where weíre at!

    My husband and I entered an IVA in March 2013. It Ďticked akongí Nicely for 3.5 years with us increasing our our paynebts each year, including a significant (for us) increase when the HP on my husbands car ended.

    Unfortunately, after 3.5 years, I had to give up work. One of our sonís has special educational needs and I was continually being called into school until Reg school decided he would be better going to a different school as they couldnít manage his needs. This resulted in him attending another 3 different schools with me having to be on hand at a drop of a hat to to calm him down and attend regular meetings as well as his consultant appointments. In the end, I had to give up work and become his carer as he is in and out of school.

    We initially took a 3 month payments break from the IVA which was extended to 6 months whilst we filed a change of circumstance with our IP. This in itself became a lengthy progress, I kept phoning for updates (from feb this year) and it seemed that nothing was being done, I had to resend all the info over 3 times by email. I wasnít paying anything, just the odd token payment, they couldnít set a DD as it was still showing the high amount. Anyway, in August, they eventually rang me but it was to chase me for payment as of course my account was in arrears. Explained (again) what was happening and I was put through to the Ďbreach teamí when I honestly thought they were going to tell me thet I was going to be forced into redundancy I was petrified as we literally had no money and I was devastated that our IVA was failing. Anyway, the lady was amazing, I explained everything and she could see how often I was phoning so knew we werenít ignoring the problem. She then saw weíd been paying for 3.5 years and had paid a total of £9500 (debt was in region of £18k), she advised the reason we hadnít heard anything from the change if circumstance was through an assessment of our I&E, we only had a disposable income of £35 a month 😢. At this point, she suggested a variation meeting was called with creditors to see if they would accept funds paid to date as a settlement. I was shocked, didnít even know this was possible but also didnít want to get my hopes up! This was at the end of August. I got a letter the 1st week in September to advise the meeting had been called for 4th October (last week), and I was relieved when they called me to say that my creditors have accepted the proposal . So that means we are going to be finally free of it! Need to wait for completion which Iím told will take 3-6 months.
    Unfortunately throughout this nightmare the last year, weíve got ourselves in a bit of a mess with gas/electricity and the company have been amazing to be fair, my son is classed as disabled and theyíve never once suggested theyíll cut off our services. Iíve contacted them and now set up a repayment plan which is a huge weight lifted of our shoulders!
    And after that essay - Iíll get on with asking the advise I came on here for! Itís great that the IVA is finished and such s relief, but I really need to save money in other areas. Iíve not changed my home insurance provider in about 10 years or my car insurance all the time Iíve had the IVA! Historically, as insurance is a form of credit, do people have difficulties changing insurance companies when they are listed as being in an IVA? Iíve done some comparisons on insurances and didbt realise just how much I paid over the odds it seems! We pay £38 a month on Home insurance (contents only), we had a claim on carpet a year ago and one due to a storm 3 years ago where we lots all electricity in the morning of Christmas Eve and didnít get it back until day after Boxing Day so claimed for our ruined food! These are the only 2 claims weíve ever made in 10+ years (probably a lot longer actually!) and my car insurance is £65 a month for a zafira and Iíve got 10 years no claims. Sorry itís so long winded!
Page 1
    • sourcrates
    • By sourcrates 8th Oct 17, 10:56 PM
    • 12,171 Posts
    • 11,632 Thanks
    sourcrates
    • #2
    • 8th Oct 17, 10:56 PM
    • #2
    • 8th Oct 17, 10:56 PM
    Sorry, without reading that wall of writing , what’s your question ?
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there, and delete spam.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
    • adyj73
    • By adyj73 11th Oct 17, 12:00 PM
    • 163 Posts
    • 50 Thanks
    adyj73
    • #3
    • 11th Oct 17, 12:00 PM
    • #3
    • 11th Oct 17, 12:00 PM
    Sourcrates - I think this was the question but was very well hidden

    do people have difficulties changing insurance companies when they are listed as being in an IVA?

    Anyway I never had any issues changing my insurance providers every year of my IVA. Get on meercats and start saving
    • Lou321
    • By Lou321 14th Oct 17, 4:18 PM
    • 5 Posts
    • 1 Thanks
    Lou321
    • #4
    • 14th Oct 17, 4:18 PM
    • #4
    • 14th Oct 17, 4:18 PM
    Hi , I had to take out car insurance for the first time whilst in an IVA and had to get a member of my family to be guarantor. This is the only experience I have had.
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