State Farm Insurance

[crazycredit]

Hello - - -This is my first post, be gentle please
My attorney should be filing my papers this week . . ..
I am including a $5000 State Farm credit card in my BK, I
also have State Farm insurance . . .will the insurance drop
me or will I be OK.
I am turning in one of my vehicles and have purchased a cheap
set of wheels that I need to get insurance on . .. I am not sure
if I should just go with a new insurance all together or stick with
State Farm.
Any advice?
Thanks

[lrprn]

There's no way to tell whether State Farm will keep you as an insurance client or not after you file to wipe out their credit card in total.

Another issue to think about is depending on the state you live in, your credit score (which will take a tremendous hit by filing) can be used to determine your payment rate. State Farm may keep you as a client, but raise your rates for the same insurance.

If you are filing with a lawyer, then most will be able to tell you what's happened with their other State Farm clients when they filed.

[sbush]

State Farm bank is completely seperate from the insurance. Your insurance score may be affected just as the previous person mentioned, but they can't raise your rates more than 5% each renewal. So, don't worry about a huge hit. IF it does go up, it will be small. But from my experience, people with less debt have better insurance scores, bankruptcy or not! (Can you tell where I work? LOL)

[crazycredit]

Thanks so Much!!!! Very helpful info