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General => Insurance => Topic started by: Madmax on 12 August 2009, 19:37

Title: Pay monthy, credit checks.
Post by: Madmax on 12 August 2009, 19:37
Back in my teens i went a bit mad & got into a bit of debt, not much but i'm still paying it off now. never been bankrupt of had CCJs
just direct debits not clearing on time etc. :lipsrsealed:

That said, will an insurance company insure me to pay monthly as i know they do a credit check but is this credit check as in depth as say
getting a loan?

Cheers people  :smiley:
Title: Re: Pay monthy, credit checks.
Post by: dirtydub on 14 August 2009, 12:22
Hi mate ive been there. Not nice havin to pay it all back  :sick:
Ive had a few insurance policys on pay monthly and never had a problem. Guess it depends how naughty u were  :smiley:
Title: Re: Pay monthy, credit checks.
Post by: Horney on 14 August 2009, 12:34
They tend to be less picky with insurance as if you miss a payment they just cancel your policy and sometimes even report you to the police for no insurance. It's not like they're selling you something you could keep or sell on, it's just a bit of paper.

nick
Title: Re: Pay monthy, credit checks.
Post by: Madmax on 14 August 2009, 13:39
Cheers fellas.

& yes paying back does suck. :evil:
Title: Re: Pay monthy, credit checks.
Post by: martinb on 18 August 2009, 12:29
unlikely to be a problem  :smiley:
Title: Re: Pay monthy, credit checks.
Post by: Mikester on 18 August 2009, 22:54
Im with HIC, and paymonthly.

Think its something stupid like 27% interest.

But if you aint got the cash, and you need insurance. What do you do.
Title: Re: Pay monthy, credit checks.
Post by: Wayne on 19 August 2009, 13:55
Quote from: Mikester on 18 August 2009, 22:54
Im with HIC, and paymonthly.

Think its something stupid like 27% interest.

But if you aint got the cash, and you need insurance. What do you do.

Mine is the same with the AA, was stuck for funds at the time.
Title: Re: Pay monthy, credit checks.
Post by: AlanD on 19 August 2009, 13:56
6 months interest free credit card? Gives you 6 months to get the cash together. If you still dont have the money get another card with interest free and transfer the balance. . . .
Title: Re: Pay monthy, credit checks.
Post by: Madmax on 21 August 2009, 21:20
Cheers guys. Got insured in the end & i don't think they did a credit check. :smiley:
Title: Re: Pay monthy, credit checks.
Post by: damien010685 on 22 August 2009, 10:20
My mate works for Direct Line he told me that the credit check is more of a formality... The main check is fraud ie if you have commited insurance fraud but as far as being crap with money lol they dont care as its pretty simple miss payments The cancel your policy so no biggy to them! however some companies APR for monthly installments are a disgrace even as much as 35% Yikes
Title: Re: Pay monthy, credit checks.
Post by: Shady Pioneer on 22 August 2009, 17:18
Quote from: AlanD on 19 August 2009, 13:56
6 months interest free credit card? Gives you 6 months to get the cash together. If you still dont have the money get another card with interest free and transfer the balance. . . .

That's how people get in trouble :P
Title: Re: Pay monthy, credit checks.
Post by: snifferdog on 22 August 2009, 17:26
Ive been bankrupt and never had a problem getting monthly insurance!

Oh and if youve got debts and live in rented accomodation i was advised (by citizens advice)that bankruptcy is the best option as they are so much more leanient in the current economic climate. I kept my bank account,car etc and was discharged from bankruptcy after 6 months.Easily the best decision ive made!  :wink:
Title: Re: Pay monthy, credit checks.
Post by: boneybradley on 22 August 2009, 18:02
At work the credit check decides what apr the installments get (If your good it's about 6% but be a bad creditor and its around 30%!)

oh and if your currently paying debtors back monthly and you get any form of credit card or loan etc you could be taken to court for breach of agreement (and all the hassle/costs that gives...)