contents insurance credit agreement

veronicamars_2

Omg, I'm having a panic! at the end of feb i moved and on 26th feb i got contents insurance at my new place, paid a deposit on the phone and agreed to pay the rest monthly by direct debit. Then on monday this week i declared bankruptcy.

then today i got a letter saying i had not signed the copy of the credit agreement they sent (i just thought it was boring paperwork and filed it away) and to send it back or i could do it online, so i went online and did it and now i'm worried because it shows signed as todays date and after ticking the box that i was agreeing to sign, i realised it also said that it was for a credit limit of up to £1500 (my insurance is only just over £200), now i'm likely totally scared that i'm going to get in trouble for applying for credt over £500. am i in trouble or will i be okay because the policy started on 26th feb?

debtinfo

I dont think you have anything to worry about

veronicamars_2

debtinfo wrote: »

I dont think you have anything to worry about

i hope not, should i mention it to the OR when i have my interview just in case?

sizzler

debtinfo is right dont worry. mention it to OR and expleain:)

veronicamars_2

ok thank u both.

peachyprice

The credit is only £200, so nothing to worry about.You're allowed to apply for credit, even when BR, the only thing you have to do is tell them you are BR if the credit is over £500

veronicamars_2

peachyprice wrote: »

The credit is only £200, so nothing to worry about.You're allowed to apply for credit, even when BR, the only thing you have to do is tell them you are BR if the credit is over £500

hi peachy, its only £200 but on the credit agreemnet it states a "credit limit £1,500.00" :mad: which is why i panicked, but i'm calm now . i did take out the policy before my bankrutcy and they have already takem deposit and first direct debit, so i think the agreement much have started evn tho i didn't sign the form.

fiveyearplan

I wouldn't worry about the credit however I would worry about not telling them you are bankrupt. If you need to make a claim your policy might not be valid. I made a claim a few years ago (pre BR) and I remember them asking me if anyone in the household had ever been bankrupt (not sure if they asked 'ever been' or 'was'). You could end up paying your premium only to find out you are not insured.

veronicamars_2

i thought i only had to tell them when i renewed?

fiveyearplan

I think you have to tell them at the time.

fiveyearplan

There is a thread by CitySlicker about insurance.