car insurance question

bbelt

hello all

i have a slight problem in relation to my car insurance which i hope someone can advise me on.

i have been struggling and missed the last two monthly instalments for my insurance.

today i receieved a letter from the company stating that unless i paid the FULL amount remaining on the policy wihtin a week they would cancel my policy.

my problem is that i cant afford the £425 for the remainder of the policy, however, when i get paid at the end of the month, i can pay the 2 x monthly payments i have missed (£61.34 x 2) and the payment for the month ahead.

why are they asking for the full amount??????

if i had the full amount why would i ahve chosen to pay extra interest by paying in instalments?????

any advice greatly appreciated

thanks in advance

michaellas

They are asking for the full amount as you have failed on the last 2 mths DD - I would advise calling them as if they cancel the policy you would be driving with no insurance & this could incur further penaties in the long run.

Call the insurer try to make a token payment for the policy - explain you have been having issues with the bank & say you will be paid @ the end of the month & would be able to clear the arrears & the next instalment. They may tell you no but unless you ask you don`t know. I wouldnt recommend burying your head in the sand. You may find if this is the 1st time you have had problems with the DD they would let you off on this occasion however if this has happened in the past they may not be as happy to allow the extension.

bbelt

oh well they woudlnt allow me an extension.

going to have to walk to work for next two weeks until i am paid and can get a new policy with another insurer.