Bankruptcy Assets

chrisb1357

As taken from the T&C

If [FONT=Frutiger 45 Light,Frutiger 45 Light][FONT=Frutiger 45 Light,Frutiger 45 Light]You [/FONT][/FONT]have chosen to pay [FONT=Frutiger 45 Light,Frutiger 45 Light][FONT=Frutiger 45 Light,Frutiger 45 Light]Your [/FONT][/FONT]annual premium by instalments [FONT=Frutiger 45 Light,Frutiger 45 Light][FONT=Frutiger 45 Light,Frutiger 45 Light]You [/FONT][/FONT]must continue to pay [FONT=Frutiger 45 Light,Frutiger 45 Light][FONT=Frutiger 45 Light,Frutiger 45 Light]Your [/FONT][/FONT]monthly Direct Debit. Any return of premium due will be based on a pro rata calculation for the period of cover. If [FONT=Frutiger 45 Light,Frutiger 45 Light][FONT=Frutiger 45 Light,Frutiger 45 Light]You [/FONT][/FONT]cancel [FONT=Frutiger 45 Light,Frutiger 45 Light][FONT=Frutiger 45 Light,Frutiger 45 Light]Your [/FONT][/FONT]policy after the 14-day period has elapsed, we will charge a cancellation fee of £50.
[FONT=Frutiger 45 Light,Frutiger 45 Light][FONT=Frutiger 45 Light,Frutiger 45 Light]AAIS (Instalment defaults)
[/FONT][/FONT]If [FONT=Frutiger 45 Light,Frutiger 45 Light][FONT=Frutiger 45 Light,Frutiger 45 Light]You [/FONT][/FONT]are paying by instalments [FONT=Frutiger 45 Light,Frutiger 45 Light][FONT=Frutiger 45 Light,Frutiger 45 Light]You [/FONT][/FONT]irrevocably authorise [FONT=Frutiger 45 Light,Frutiger 45 Light][FONT=Frutiger 45 Light,Frutiger 45 Light]AAIS[/FONT][/FONT], as [FONT=Frutiger 45 Light,Frutiger 45 Light][FONT=Frutiger 45 Light,Frutiger 45 Light]Your [/FONT][/FONT]agent, at [FONT=Frutiger 45 Light,Frutiger 45 Light][FONT=Frutiger 45 Light,Frutiger 45 Light]AAIS[/FONT][/FONT]’ discretion to cancel this insurance following and in accordance with any default notice sent to [FONT=Frutiger 45 Light,Frutiger 45 Light][FONT=Frutiger 45 Light,Frutiger 45 Light]You[/FONT][/FONT]. [FONT=Frutiger 45 Light,Frutiger 45 Light][FONT=Frutiger 45 Light,Frutiger 45 Light]You [/FONT][/FONT]also irrevocably authorise [FONT=Frutiger 45 Light,Frutiger 45 Light][FONT=Frutiger 45 Light,Frutiger 45 Light]AAIS [/FONT][/FONT]to receive any refund of premium and apply it to pay or reduce any sums owed to [FONT=Frutiger 45 Light,Frutiger 45 Light][FONT=Frutiger 45 Light,Frutiger 45 Light]AAIS [/FONT][/FONT]including the cancellation fee of £50.

kerrypn wrote: »

I could be completely wrong with this chris so wait for confirmation, but cancel the insurance and the direct debit, then include the amount still owing in your BR.

HTH

confused76

i've never heard of that before! a lot of people switch insurers after a year?
i'd do as kerry advised and ring national debthelpline tomorrow to see if it can be included...

chrisb1357

Will give them a call tommrow morning,

I have been with the AA for only a year but i paid each month instead of yearly and got a new contract every 12 months

Chris

confused76 wrote: »

i've never heard of that before! a lot of people switch insurers after a year?
i'd do as kerry advised and ring national debthelpline tomorrow to see if it can be included...

kerrypn

Thats what makes me suspect you can include it-the insurer sort of "loans" you the whole premium to be repaid over the year. Make sure you do check Chris because thats £100 ish towards your BR if you can

chrisb1357

Afternoon All,

I was unable to contact the debtline today as i did not know it closed at 1pm so i gave them an email.

The email i sent was

"Hi There,
I am in the process of filling out forms for Bankruptcy and i have a question regarding a certian item.

I have just took my car off the road and i still have a monthley car insurance this was taken out at the start of 2009 and paid each month.

This still has 2 months of payments left to pay.
As i do not have the car now they are telling me i have to pay these two payments of around £49 for Dec and £35 for Jan plus £50 Cancel fee.

Can i add this debit to my SOA form for Bankruptcy as i am unable to make these payments and could do with using the money for the court charges. I was told that my AA insurance insurer sort of "loans" you the whole premium to be repaid over the year at the start of the policy in 2009. Is this class as a loan and can it be inclueded in my SOA form for Bankruptcy.
THanks
Chris

debtinfo

yes you can, as the charge originates from a contract that started before the bankruptcy

chrisb1357

So i am ok to cancel my DD at my bank for this and add this to my Creditors list on my SOA and i do not need to pay anymore to the insruance.

Does this go under the section on the SOA for Unsecure Creditors

Chris

debtinfo wrote: »

yes you can, as the charge originates from a contract that started before the bankruptcy

chrisb1357

In Section 5.1 of the Form it says Do you have any cheque cards, cash dispenser cards, credit or charge cards, debit cards, etc?

I have listed my 2 bank account cards here but should i also list my 2 credit cards that are on my creditors list. I have not had my credit cards for over 2 years as these was cut up so i dont have them to hand if they want me to hand them over.

Chris

debtinfo

if you dont have the cards you do not need to put them down

chrisb1357

When it comes to paying the BR fees at the court is it best to keep hold of the money i got from my car out my bank accounts so when the time comes i can pay cash for the court fee's
Do i have to list this money under the section as money carry in person for this money or as they are for the BR fee