Local Law Firms Home > Bankruptcy Debt Relief Overview > Bankruptcy and Credit Repair Help > Insurance Whether it’s insurance for a home, car, or health, most of us rely on insurance and need it for the peace of mind in case anything should ever happen. However, when someone has poor credit or files for bankruptcy, their ability to get or maintain insurance can be affected and they be not have the coverage they want, or any coverage at all. Would you like to know more about filing for bankruptcy and how it can affect your insurance policies? Our bankruptcy lawyers can help you. Contact a bankruptcy law attorney in your area today to learn more about the legal aspects surrounding a bankruptcy filing. You be denied or lose insurance that covers your:
The last thing anything ever wants is to lose their insurance policy, but unfortunately, it happens. Even if you are making timely payments, you run the risk of losing your insurance policy altogether if you have poor credit or declare bankruptcy. What happens is this: Insurance companies often run credit checks before offering someone a policy. If you already have one, you may have had good credit when you were initially approved. However, if your insurance company gets wind of the fact that you’re defaulting on other accounts, they may close your insurance policy in order to protect themselves. In other words, even if you have no plans of missing payments with your insurance company, they may not realize or believe that, and will anticipate that you may stop paying so they could close your account out as a precaution.
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