We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Car Insurance
Options
Hi all, I've recently (May 2018) had a Debt Relief Order. My car insurance is now due for renewal, and last year I paid it in full. However, I now need to pay it in installments due to my budget / finances. I'm aware that as part of my DRO I'm not allowed to apply for credit, does this mean I can't apply / pay for car insurance in installments? As it seems to technically be applying for credit?
Not sure what I'll do if I can't pay it in installments as there's no way I can pay it up front.
Thanks for any help
Not sure what I'll do if I can't pay it in installments as there's no way I can pay it up front.
Thanks for any help
0
Comments
-
Hi,
Car insurance paid monthly, although technically its obtaining credit, it is an allowable expense as its a legal requirement to have car insurance, i did it during my DRO just fine, no problems whatsoever, same goes for other kinds of insurance as well.
It should of formed a part of your original monthly budget.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Great, thought that would be the case but just wanted to check, many thanks
0 -
Hi James,
I've recently had to get new insurance in an IVA and has no issues. Hope this helps.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.9K Work, Benefits & Business
- 598.8K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards