L33 LEG
Banned
Registered: 6th Jan 03
Location: Blackburn . Drove: Dimma Saxo VTR
User status: Offline
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when u take out finance u have the option to protect it if u loose your job. jst say if u happened to loose ur job and did protect ur finance what happens? my mate says that they pay all ur debts off aslong as u get a job within 12 months, this can't be right tho can it? cos then people would jst buy things on finance and quit work and then get stuff for free.
so what does it mean?
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Yeah think that right
Doing that would fuck you up for life tho.....go for it if thats what you want!!
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L33 LEG
Banned
Registered: 6th Jan 03
Location: Blackburn . Drove: Dimma Saxo VTR
User status: Offline
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well when i took out finance i didnt protect it cos i didnt think they would just pay off everything. so now my mate is calling me stupid for not protecting it as iv got no job yet. i need some advantages of what iv done to help argue my case with him lol
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Go out and get another job and stop being a bum??? That will shut him up!! I got offered to protect both my car loan I once had & my mortgage but didnt bother....just costs money for something i'll not need!!
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Rebrabuk
Member
Registered: 28th Mar 04
Location: North East
User status: Offline
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They won't wipe out your debt. They just won't charge you interest on any missed payments within a specific period of time whilst your seeking new employment as far as i'm aware.. 
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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quote:
Originally posted by Rebrabuk
They won't wipe out your debt. They just won't charge you interest on any missed payments within a specific period of time whilst your seeking new employment as far as i'm aware..
What the offered me on my mortgage was if im ill or fired after 3 months of illness/joblessness they will pay my mortgage for a period of 12 months!! I dont plan on getting fired and if I do i'll have sorted that by time 3 months comes round and if im so ill I cant work then i'll not be giving a fuck about a house Saves me £17 a month 
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corsa_crew
Member
Registered: 9th Oct 03
Location: Stockton-on-Tees
User status: Offline
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just depends on who ur with ad what cover u have , general idea is that they will pay a certain percentage of your monthly repayments if out of work , only time they will pay it off is in extreme cases such as long term illness or death.
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L33 LEG
Banned
Registered: 6th Jan 03
Location: Blackburn . Drove: Dimma Saxo VTR
User status: Offline
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so basically they wont pay off the debts, jst help u out with the monthly payments until u get a job?
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corsa_crew
Member
Registered: 9th Oct 03
Location: Stockton-on-Tees
User status: Offline
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yep thats about it i believe cud b wrong but i'm sure they only pay off if its an extreme case not just out of work, i know with the mortgage cover they will pay off the whole mortgage if one partner was to pass away.
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L33 LEG
Banned
Registered: 6th Jan 03
Location: Blackburn . Drove: Dimma Saxo VTR
User status: Offline
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right then, cheers for that
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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quote:
Originally posted by corsa_crew
yep thats about it i believe cud b wrong but i'm sure they only pay off if its an extreme case not just out of work, i know with the mortgage cover they will pay off the whole mortgage if one partner was to pass away.
^^No they pay it for a year in that time your ment to sort out whatever situation your in. After 12months thats it!!
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L33 LEG
Banned
Registered: 6th Jan 03
Location: Blackburn . Drove: Dimma Saxo VTR
User status: Offline
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so they pay it off. and if u have got a job within 12months what happens? do u have to pay anything?
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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quote:
Originally posted by L33 LEG
so they pay it off. and if u have got a job within 12months what happens? do u have to pay anything?
Not sure about that - you will either have to pay off whats left or pay whatever was owed when they took back over
Its not really a situation I would ever want to get into & will leave a big black mark on your name - just try getting anything on finance or a house then....No chance!!!
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L33 LEG
Banned
Registered: 6th Jan 03
Location: Blackburn . Drove: Dimma Saxo VTR
User status: Offline
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well as i said i didnt protect it so i wnt be going down this route. and when/if i decide to take a loan out later in life it probably will fuck it up big style so probably best that i didnt protect it
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Teddy
Member
Registered: 19th Jul 04
Location: Northampton Drives: VW Bora 1.9TDi pd130
User status: Offline
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You cant quit or be dismissed - is HAS to be the company's decision to let you go for a reason not down to you.
otherwise they wont pay out.
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Half Pint
Member
Registered: 25th Mar 02
User status: Offline
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depends on the company, some places will just pay the interest and not the actual loan.
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Mark Petty
Member
Registered: 26th Jul 01
Location: Bournemouth Drives: Suzuki gsf600
User status: Offline
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Have u actually lost your job or are u telling porkeys again?
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Chris@Speedfreex
Member
Registered: 24th Mar 02
Location: west mids, corsa C20LET
User status: Offline
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if u opted out of ppp (payment protection plan) they will niot make your payments for you. get job quikly cos if u miss payment its will fuk wiv your credit profile
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L33 LEG
Banned
Registered: 6th Jan 03
Location: Blackburn . Drove: Dimma Saxo VTR
User status: Offline
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dnt worry, im paying my monthly payments normally, and hopefully within the next month or so everything should be payed off fully nearer enuf.
i didnt opt for the protection plan, i jst needed to know what would have happened if i did do
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Mark Petty
Member
Registered: 26th Jul 01
Location: Bournemouth Drives: Suzuki gsf600
User status: Offline
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quote:
Originally posted by Chris@Speedfreex
if u opted out of ppp (payment protection plan) they will niot make your payments for you. get job quikly cos if u miss payment its will fuk wiv your credit profile
he sells cars
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L33 LEG
Banned
Registered: 6th Jan 03
Location: Blackburn . Drove: Dimma Saxo VTR
User status: Offline
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quote:
Originally posted by Mark Petty
quote:
Originally posted by Chris@Speedfreex
if u opted out of ppp (payment protection plan) they will niot make your payments for you. get job quikly cos if u miss payment its will fuk wiv your credit profile
he sells cars
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Mark Petty
Member
Registered: 26th Jul 01
Location: Bournemouth Drives: Suzuki gsf600
User status: Offline
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quote:
Originally posted by L33 LEG
quote:
Originally posted by Mark Petty
quote:
Originally posted by Chris@Speedfreex
if u opted out of ppp (payment protection plan) they will niot make your payments for you. get job quikly cos if u miss payment its will fuk wiv your credit profile
he sells cars
I've lost track have u been banned yet? What happened about that driving with no insurance thing?
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L33 LEG
Banned
Registered: 6th Jan 03
Location: Blackburn . Drove: Dimma Saxo VTR
User status: Offline
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im still waiting for my summons for my points, wish theyd had come by now tho.
and im also waiting for my summons for no insurance, but ill get away with that one
jst playing the waiting game
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Mark Petty
Member
Registered: 26th Jul 01
Location: Bournemouth Drives: Suzuki gsf600
User status: Offline
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quote:
Originally posted by L33 LEG
im still waiting for my summons for my points, wish theyd had come by now tho.
and im also waiting for my summons for no insurance, but ill get away with that one
jst playing the waiting game
You have been waiting a while for the first summons, u maybe lucky and they may drop the charges.
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L33 LEG
Banned
Registered: 6th Jan 03
Location: Blackburn . Drove: Dimma Saxo VTR
User status: Offline
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quote:
Originally posted by Mark Petty
quote:
Originally posted by L33 LEG
im still waiting for my summons for my points, wish theyd had come by now tho.
and im also waiting for my summons for no insurance, but ill get away with that one
jst playing the waiting game
You have been waiting a while for the first summons, u maybe lucky and they may drop the charges.
ye i know, think it was february when they impounded the car and investigated it. ill jst wait for a few months and see what happens. my car is undrivable at the mo so it isnt bothering me too much
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