will my B/R affect my parent

scppbysti

I live in Scotland and owe around 35k ,I am in the process of applying for LiLa B/R I also live with my parents at the moment and was wondering if my application if granted will affect my parents i.e buying a car or anything else. I dont have any personal seizable assets . I just want to be able to someday have a fresh start in life while im young enough, thanks in advance for any advice

VIGILANT22

scppbysti wrote: »

I live in Scotland and owe around 35k ,I am in the process of applying for LiLa B/R I also live with my parents at the moment and was wondering if my application if granted will affect my parents i.e buying a car or anything else. I dont have any personal seizable assets . I just want to be able to someday have a fresh start in life while im young enough, thanks in advance for any advice

The only people who would be affected are those you're "financially associated" with ...that means joint finance agreements

scppbysti

Thank you for the prompt reply :) , i have no financial attachments with anyone all credit was taken unsecured by myself. at least now i can begin sorting this as i have the £100 b/r fee and application filled out . one other thing is will this really affect car insurance premiums as i cant see that it makes me more at risk on the roads . i read this online and cant see the logic in it at all:eek:

VIGILANT22

Are they allowing you to keep your car?.........If yr applying for new insurance this may be affected

scppbysti

VIGILANT22 wrote: »

Are they allowing you to keep your car?.........If yr applying for new insurance this may be affected

i am using an old car my dad had lying around just now , but it was just for future reference as i will need to get a car for work purposes as im looking for employment quite a distance from home . i just dont see why car insurance should be affected by having debt problems i mean if i didnt make a claim or crash into anyone why should a premium rise due to a b/r and i have never not paid insurance

haremscarem

It's more to do with applying for credit for insurance, if you pay monthly then you you will be credit searched. Also, an unrecorded enquiry is placed on your file when you do a qoute.

I think that's the basis of it...