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Car insurance rate.

S

sandmanwake

Golden Member
Does anyone know if a bad credit history would affect car insurance rate? I just got Geico and they ran a credit history report on me.
 
To make a long story short. I went to get my mail from my parent's house one day and noticed a couple of unpaid bills with my name on it. Turns out my dad had opened up a bank account and added my name to it with overdraft protection and the account had around $3000 in charges on it. I also have no clue how long the bill had gone unpaid--interest on the account is 19.99%. I freak out and run a credit history report. My credit was good except for that one account that hasn't been paid. I go talk to the bank to see what's up. After the talk I am extremely pissed that my parents did this to me especially considering I gave them close to $5000 to help them with their bills even while I was still trying to pay my own bills while in school. I pay off the amount that was due that month and then called my dad to tell him it was that he has to make payments since I no longer had a job at that time and could not afford to do so and he was the one who ran up the bill. He tells me ok.

Fast forward 6 months. Just to be on the safe side, I check with the bank to see how the payments are going--hadn't had time before this since I was busy with school. Turns out not one payment had been made since i last did so 6 months ago. So now, I'm going to take a student loan to pay off the $3000 rather than ruin my credit history any more.

And that's what my parents have to do with my credit history. And apparently their action is continuously screwing me over still since it's going to increase my car insurance rate even more.
 
You should take your Dad to civil court to get that $3000. Also, get the hell out of that house once you graduate!
 
I haven't lived with my parents since 18. Taking them to court will do no good since they don't have the money anyway nor do I have the cash to pay the lawyer's fee.
 
Originally posted by: sandmanwake
I haven't lived with my parents since 18. Taking them to court will do no good since they don't have the money anyway nor do I have the cash to pay the lawyer's fee.
Click to expand...

Yes, but you can still claim a file against them and possibly have your credit history fixed with the right amount of time and effort.
 
Originally posted by: sandmanwake
I haven't lived with my parents since 18. Taking them to court will do no good since they don't have the money anyway nor do I have the cash to pay the lawyer's fee.
Click to expand...


You DON'T need a lawyer for small claims court. Also if you win send it to the bank and report it. It will be at least removed.

 
Thanks for the advice guys, but lets just say there are other things I'm taking into consideration. If all I was thinking about was myself, then yes taking my dad to court would be best for me, but lets just say that in this situation, I can live with that bad mark on my credit history for now.

Now what I really need is a way where if anyone tries to open up an account of any sort under my name, I at least get a call about it first.
 
Originally posted by: sandmanwake
To make a long story short. I went to get my mail from my parent's house one day and noticed a couple of unpaid bills with my name on it. Turns out my dad had opened up a bank account and added my name to it with overdraft protection and the account had around $3000 in charges on it. I also have no clue how long the bill had gone unpaid--interest on the account is 19.99%. I freak out and run a credit history report. My credit was good except for that one account that hasn't been paid. I go talk to the bank to see what's up. After the talk I am extremely pissed that my parents did this to me especially considering I gave them close to $5000 to help them with their bills even while I was still trying to pay my own bills while in school. I pay off the amount that was due that month and then called my dad to tell him it was that he has to make payments since I no longer had a job at that time and could not afford to do so and he was the one who ran up the bill. He tells me ok.

Fast forward 6 months. Just to be on the safe side, I check with the bank to see how the payments are going--hadn't had time before this since I was busy with school. Turns out not one payment had been made since i last did so 6 months ago. So now, I'm going to take a student loan to pay off the $3000 rather than ruin my credit history any more.

And that's what my parents have to do with my credit history. And apparently their action is continuously screwing me over still since it's going to increase my car insurance rate even more.
Click to expand...


Oh man. That SUCKS. I had a similar experience, although I don't have any proof of who did it in my case, just a 99.9% suspicion of a certain someone. I didn't find out until the CC company called me and told me about the charges, then I had to sign a form they sent me stating that the card was obtained fraudulently. Haven't heard anything more about it, and my credit wasn't shafted by it, thankfully.
 
You may be able to negotiate this with your auto insurance company if you can provide support of the situation. I know you can do it with home financing and such.

And how the hell did your dad get overdraft protection, usually you have to have decent credit to get it and from the sounds of his money management, I would tend to believe he didn't have good credit himself when he set the account up.
 
Originally posted by: sandmanwake
Thanks for the advice guys, but lets just say there are other things I'm taking into consideration. If all I was thinking about was myself, then yes taking my dad to court would be best for me, but lets just say that in this situation, I can live with that bad mark on my credit history for now.

Now what I really need is a way where if anyone tries to open up an account of any sort under my name, I at least get a call about it first.
Click to expand...

Easy--just set up a "fraud alert" on all three credit bureaus. If anyone (including you) tries to get credit, you'll have to verify that you authorized it. You won't be able to get instant credit, but I don't think you're concerned with that at this point.

 
Originally posted by: sandmanwake
To make a long story short. I went to get my mail from my parent's house one day and noticed a couple of unpaid bills with my name on it. Turns out my dad had opened up a bank account and added my name to it with overdraft protection and the account had around $3000 in charges on it. I also have no clue how long the bill had gone unpaid--interest on the account is 19.99%. I freak out and run a credit history report. My credit was good except for that one account that hasn't been paid. I go talk to the bank to see what's up. After the talk I am extremely pissed that my parents did this to me especially considering I gave them close to $5000 to help them with their bills even while I was still trying to pay my own bills while in school. I pay off the amount that was due that month and then called my dad to tell him it was that he has to make payments since I no longer had a job at that time and could not afford to do so and he was the one who ran up the bill. He tells me ok.

Fast forward 6 months. Just to be on the safe side, I check with the bank to see how the payments are going--hadn't had time before this since I was busy with school. Turns out not one payment had been made since i last did so 6 months ago. So now, I'm going to take a student loan to pay off the $3000 rather than ruin my credit history any more.

And that's what my parents have to do with my credit history. And apparently their action is continuously screwing me over still since it's going to increase my car insurance rate even more.
Click to expand...
That wasn't very short. 😛

 
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