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Discuss PLI after bankruptcy in the Insurance for Plumbers area at UKPlumbersForums.co.uk.

  1. Millsy 82

    Millsy 82 Plumber GSR

    Has anyone been bankrupt in the past and managed to get PLI I am struggling as everywhere I look it says have you ever been bankrupt.

    Who did you go with? I know Im going to have to pay more
     
    • Like Like x 1
  2. Nostrum

    Nostrum Plumber GSR

  3. Ray Stafford

    Ray Stafford Guest

    Use a broker.

    Usually in the insurance market there are some underwriters who are looking to expand their book, some looking to stabilise, and some looking to reduce. The broker will know who is doing what at any particular time.
     
    • Like Like x 1
  4. Millsy 82

    Millsy 82 Plumber GSR

    Yeah I'm trying them that was the only thing I could find.

    I never intended to go bankrupt but I had 1 company take me for £3500 when they went under (I was on the books they were earning a fortune as they got paid final stage payments off 4 sites they were also doing 10 heating installs a week for a housing association) I then set up self employed and did alot of work for a bad builder ( got my money in the end but by that time I had to pay all my bills and my mate using a credit card) Tried for years to get it under control then finally decided I couldnt handle it anymore.
     
  5. Millsy 82

    Millsy 82 Plumber GSR

    Yeah going to try one in my local town tomorrow as I used them years ago for something (I think it was moped insurance when I was an apprentice) but they were good
     
  6. Mrs Tara Plumbi

    Mrs Tara Plumbi Guest

    I was going to say same thing.

    WE use this broker: Business Octopus
    The Business Octopus | Small Business Insurance | Company Insurance
     
  7. REDSAW

    REDSAW Guest

    cant convey over your circumstances but,

    b-in-law went bancrupt and anything he got like ppi claim was all payable to his creditors, and they will find out!!!
    best to leave all claims due for the 6 years and when you do recover it will be all yours to keep.
     
  8. Millsy 82

    Millsy 82 Plumber GSR

    Well spoke to 3 brokers today 2 are getting back to me tomorrow and 1 got me a price there and then which was £580 so it was around £130 more than what I got quoted on compare the market so not as bad as I thought it was going to be.
     
  9. Millsy 82

    Millsy 82 Plumber GSR

    Yeah a friend told me about that he was going to claim loads back apparently in the thousands then they said oh you've been bankrupt? none of the money will come to you.

    I was always quite switched on when it came to additional charges the only one I had was in my business loan which after I packed in I put into a personal loan as it was a smaller interest rate.
     
  10. mike-c

    mike-c Plumber GSR

    When I read this post a couple of weeks ago I was in the process of a ppi claim. My heart stopped when I read it.
    I have just been informed that my total payout WAS £3897.08.
    The bank took great delight in telling me that it has been paid in full...to the bankruptcy lawyer people!
    Apparently if I had claimed it in 2 months time they would not have been able to touch it!
    Lucky white heather anybody? Lol.
     
  11. mike-c

    mike-c Plumber GSR

    Edit to add. Just found out that I would have lost the payout no matter how long it took to claim it as the receivers would always argue that the original loan and ppi were a major factor in the bankruptcy in the first place.
    If anybody has been bankrupt in the past then it is pointless even thinking about making a ppi claim. The powers that be will always take it and say that it will be used to help pay off your debts but in reality,with the sums involved, it will just get lost in lining the lawyers pockets.
    Another harsh lesson learned from buying a house just when the market crashed soon followed by a wife's redundancy!
     
  12. brum

    brum Plumber

  13. newcastle phill

    newcastle phill Guest

    Whats this post about public liability or ppi.

    Sort of getting crossed wires
     
  14. brum

    brum Plumber

    maybe its in title??? although another phil turned it into ppi maybe hes dyslexic ?..brum
     
    • Like Like x 1
  15. newcastle phill

    newcastle phill Guest

    Title says PLI