Bankruptcy and fraud conviction affecting wedding insurance?

scabbymonkey

copa_feela wrote: »

But you have to appreciate that past mistakes will affect how people see you now (and in the future). We've all made mistakes, it takes time for others to forget them.

Given that you are still in debt, is the expense of a wedding really a good idea right now?

I do appreciate that, and because I wasnt thinking straight when it all happened I never once thought of the life long repercussions my choices would have. I cannot get a job, rejected from university, we are struggling to get a mortgage together, the list is endless. And thats before the never ending feeling that I am scum, worthless.
A close family member passed away and I received a sum of money in their will, this cleared all debts, able to put some in savings, a deposit for a home, and we decided that we would use the remaining on a small and very cheap wedding (under £2500). However I keep hearing we should get wedding insurance before paying for anything to make sure we are covered, just in case!

scabbymonkey

Spiderham wrote: »

Further to my previous comment, the bankruptcy does make insurers nervous too. If you have been bankrupt previously that shows money issues in past and possibly currently too, by your own admission in another thread you are a bit hard up at the moment.

Now if you are struggling financially, it means that it is more likely that you would be tempted into trying to claim on the insurance via a non-legitimate claim to recoup the expenses made if you think you have spent too much. This coupled with the previous convictions is likely to not make you the best of propositions to an insurer so if I'm being brutally honest I think you really will struggle to get the insurance.

Thank you very much, I appreciate your honesty and advice.x

ACG

What are you insuring against?

Pay for it on credit card and then pay off your credit card. If it goes wrong you can claim through that.

copa_feela

scabbymonkey wrote: »

I do appreciate that, and because I wasnt thinking straight when it all happened I never once thought of the life long repercussions my choices would have. I cannot get a job, rejected from university, we are struggling to get a mortgage together, the list is endless. And thats before the never ending feeling that I am scum, worthless.
A close family member passed away and I received a sum of money in their will, this cleared all debts, able to put some in savings, a deposit for a home, and we decided that we would use the remaining on a small and very cheap wedding (under £2500). However I keep hearing we should get wedding insurance before paying for anything to make sure we are covered, just in case!

Obviously it is up to you, but I'd be thinking what else you could do with that money that will be more positive long term. What if your interest rate goes up once you get a mortgage, or the house needs repairs. I'd seriously be thinking about a contingency fund beyond a bit of savings.

scabbymonkey

I dont have a credit card, and other halfs only has a very small limit. The insurance covers for many things e.g if a health problems means we need to cancel the wedding, if there are any problems with suppliers, damage to cake/dress/rings etc.

scabbymonkey

copa_feela wrote: »

Obviously it is up to you, but I'd be thinking what else you could do with that money that will be more positive long term. What if your interest rate goes up once you get a mortgage, or the house needs repairs. I'd seriously be thinking about a contingency fund beyond a bit of savings.

I appreciate that but I believe in marriage, and while we would both love the big wedding every little girl dreams of we have decided to have a relatively small and cheap wedding. I would rather not get into figures but our savings would be enough to cover our expenses for over a year if my other half lost his job. We can expect to add substantially to that in the near future through the sale of a house left to my other half. (to be split with his 2 brothers, but it is a valuable house. Unfortunately we are unable to move into it as its 900 miles away, and we are unable to buy out his brothers)

VictorM_2

I would also question the wisdom of having a very expensive party when you are obviously having financial issues also - not being rude but it is something to think about.

mikey72

scabbymonkey wrote: »

I dont have a credit card, and other halfs only has a very small limit. The insurance covers for many things e.g if a health problems means we need to cancel the wedding, if there are any problems with suppliers, damage to cake/dress/rings etc.

I wouldn't bother with insurance tbh.

You've said you're spending money you've got.
So even if it doesn't happen, you won't be in debt.

If there's a problem with suppliers, damage to your dressetc, will it stop you getting married?
At best, it'll give you cash back after the event, which won't change the day.
If you're too ill, you'll be delayed until you're better, or the hospital chaplain can marry you.
Either way, you'll be married, eventually
Just enjoy the day, and spend the money on something useful, like the bar tab.

forgotmyname

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