Insurance
Why is it so important to have insurance? When you go through a bankruptcy and even when you are not in bankruptcy, it is very important that you have insurance on your home and car. The law requires you when you are in bankruptcy to have full coverage insurance on your vehicles, if you do not provide insurance, then the creditor can file for a motion to lift the automatic stay to force insurance and if no insurance is still not provided, then you will loose your car. The same is true on the house. It is important to have insurance on your home at all times. When the mortgage company finds out that you don’t have insurance, they will file a motion to lift the stay and force insurance on the home.
Having to pay for insurance that is forced placed, is more expensive than you looking for insurance on your own. I don’t know how much more I can stress, how important it is to have and keep insurance. If you fail to do so, then it will cause you problems in the long run.
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