State Farm cancelling our homeowners policy b/c we are in foreclosure
I have just turned in my paperwork to the Lawyer and we will meet in a week to discuss my situation. Here is what I need to decide on right now. Since I am insured with State Farm (Auto and Home) and also owe them 20K on a credit card, should I consider going somewhere else like MetLife for insurance? I would like to remain with State farm, but I can see them dropping my policies when they find out I can't pay their credit card anymore. I guess State Farm Bank and Insurance companies are one in the same? My credit rating is so far perfect, the reason for the debt is a 1 month spending spree from a Bipolar spouse (don't laugh unless you've been there). I think I answered the question for myself, but, at this point I'm so darned confused I need a prod in the right direction. Thanks....
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I had a similar problem with my bank and an RV loan (we had turned the unit in and were awaiting it's sale) and a CC. We had stopped paying on both pending the BK filing of course.
My attorney told us that it could be a problem and recommended that I change banks so I did right away.
In some cases like this it's better to error on the wise side.
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