by Kalyynnn » Mon May 06, 2013 04:19 am
I had some financial trouble a few months ago and I'm slowly but surely catching up with my current bills. I do intend on paying my previous provider, but I'm living paycheck to paycheck and in desperate need of auto insurance ASAP. I haven't been driving my own vehicle, bumming rides here and there and I can't live this way anymore. I can't afford to pay off my bills before I pay for a new insurance policy. If there's any way around this please let me know! Thank you!
Posted: Mon May 06, 2013 07:19 am Post Subject:
In order to acquire a fresh auto insurance policy and to cancel the old old, you'll have to fulfil all your obligations with the previous provider. However, in order to do that, you'll have to find out some additional sources of income since you are in no position to bear all these expenses while 'living paycheck to paycheck.'
If you don't notify your old insurance provider and ask them to cancel your policy in written, then it is very likely that they will continue to bill you for that and at the same time bother you for payment both via calls and e-mails.
However, if you choose not to pay off your dues and remain silent about your intention to cancel the existing insurance policy, then the old insurance provider will cancel your policy for non-payment and report the same to the credit bureaus. This may hamper your prospects of securing new auto insurance policy from another insurer.
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