Do insurance companies do credit checks ?

ravensforsb

Hi,

I currently have an ongoing personal injury claim ongoing for injuries I received during a car accident.

I was wondering if anyone can advise if insurance companies (i.e Admiral, Aviva, Churchill etc) carry out credit checks on the person they are paying out to, before issuing a cheque?

Any help would be appreciated :beer:

Carpi09

I can't see any valid reason for them carrying out a credit check on you if they are just giving you a payout?

May well be wrong!

ravensforsb

yeah Im not too sure either - does anyone know if I would have to give my permission before any credit check can actually be made in the first place?

mania112

I've noticed credit SEARCHES on my file for a car insurance quote.

ravensforsb

the main thing I am thinking about is do they check your record as standard process to see if you are currently in an IVA / Trust Deed?

and if you are ... would they then inform your admin company?

forgotmyname

A quote can record a search on your credit file. Prove you are a real person.

If you want to pay monthly then they usually give you a loan. That may be a full recorded search for everyone to see.

Are you supposed to inform of any new credit etc as terms to the IVA?

You may land yourself in trouble taking on more credit.

kingstreet

This is a claim settlement and although the insurer may pay it to you, you are bound by law to report it to your Insolvency Practitioner.

http://www.iva.net/visitors-questions/financial-windfall-during-iva.php