Will my car insurance go up after I file Bancrupty?

[ando]

Just wondering what happens when my car insurance expires. Will it cost more if I elect to renew with same company and they find out that I filed bankruptcy?

Also what about Department store cards ? etc--

[AngelinaCatHub]

It would behoove you to keep your car insurance in force. However, your bankruptcy has nothing to do with your driving record.

About cards, they will be toast, and why would you wish to keep any? What got you here in the first place? Probably credit cards like all of us. 'Hub

[ando]

thank you ,

yes you are right about credit cards , but I have this J.C Penny card that I use but pay the whole balance at the end of each month making small purchases. I wonder if it will be affected!!

As for car insurance , yes excellent driving record , but I think I remember they did ask if have I ever filed bankruptcy on the renewal application.

[StartingOver08]

My insurance did not increase, in fact it was reduced a little because now I am driving a less expensive, older vehicle. I'm with State Farm. I don't know if it matters, but I have been with them for about 18 yrs. Ask your ins agent.

[AngelinaCatHub]

It is possible that your Penney card could be affected. Once Suggestion of Bankruptcy is sent, many card companies automatically close the accounts. I doubt your car insurance would go up, but a lot of places ask this question as it shows a form of "responsibility". That being said, I believe with the gross amount of bk's happening in this economy, that will by a moot question to ask. 'Hub

[Flamingo]

Do a search in this forum on insurance credit profiling. If your state allows the practice, you can expect to see your rates rise due to your BK if you have not been with your company for a while or go to a new company and your credit is checked. If your state does not allow the practice and your present company raises your rates and you believe it is due to your credit/BK, contact your State Department of Insurance. The way to find out if your state allows the practice is to call your State DOI information line directly or look up your states website for the DOI section and see what is published.

[jribe]

thank you ,

yes you are right about credit cards , but I have this J.C Penny card that I use but pay the whole balance at the end of each month making small purchases. I wonder if it will be affected!!

As for car insurance , yes excellent driving record , but I think I remember they did ask if have I ever filed bankruptcy on the renewal application.

all accounts must be included in your BK- your JC Penny card is no exeption. It's still a credit card; even though it's only for that store.. I wouldn't expect to get a new one right away.

[junker]

yes, depending on what state you are in, Florida allows profiling, while California does not. while i lived in florida my homeowners policy doubled. and car insurance was higher than in calif.

[justplaintired]

When our credit score starting sinking I worried about insurance, so far so good. We have filed and got our statement and nothing went up. However our home owners did appear to rise slightly ($40) a year.

We kept no cc. We want no cc. At first we thought we'd keep a home improvement cc. We have lived successfully with no cc for 1 1/2 yrs. It's great, I love it!!

We have swore off plastic, if we can't pay cash, we don't need it.

[sophia]

My insurance renewal was due 6 weeks after filing Ch. 7.

My rates went up close to $1000 & my down payment was 2x's more than they normally ask for. I used to carry full coverage but had to drop
uninsured motorist since it's cost was a little over the amount my insurance went up.

I paid no bills starting in February & filed Ch. 7 end of April, have some 60-90 day lates and filed for Ch. 7 on Credit report at time of auto insurance renewal.

Hope this helps.

[anime-chicka]

thank you ,

yes you are right about credit cards , but I have this J.C Penny card that I use but pay the whole balance at the end of each month making small purchases. I wonder if it will be affected!!

As for car insurance , yes excellent driving record , but I think I remember they did ask if have I ever filed bankruptcy on the renewal application.

You cannot pick and choose what will and won't be including in the bankruptcy. I had about three store cards that didn't have any balances. I included them anyway. All were closed. It doesn't matter really since I tended only to shop about every 6-8 months with them when I needed to replace clothing.

As for car insurance, mine did go up a little, but that was more due to having to get a new car rather than the bankruptcy itself. Before I had to replace my car, it had not gone up (I have AAA).

Hope this helps.

[BigJohn]

My insurance company gives me a 35% break for being "credit worthy".

[gowiththeflo]

does new york credit profile?

[ando]

Oh , i didn't know that I have to include all credit cards in bankruptcy , my lawyer told me I can list only the ones affected . how about my checking plus in my checking account ? He told me not to worry about my checking account .

He told me to list those cards that will be included in the bankruptcy only. Now some of you saying to include all and I am a bit confused , by the way,my lawyer hasn't filed yet? I am still waiting , waiting , waiting!!!!!

[LuciluS]

Oh , i didn't know that I have to include all credit cards in bankruptcy , my lawyer told me I can list only the ones affected . how about my checking plus in my checking account ? He told me not to worry about my checking account .

He told me to list those cards that will be included in the bankruptcy only. Now some of you saying to include all and I am a bit confused , by the way,my lawyer hasn't filed yet? I am still waiting , waiting , waiting!!!!!

Hope you have credit bureau reports as they list open accounts with zero balances. You need to make a list of those and let your Attorney know before he files your petition.

You are required to list All debts owed at time of filing bankruptcy. That includes any medical bills due. You may pay those medical bills after your BK is closed.