Someone that knows all about the law... i could really use ur help right about now!!!?
Find answers to your legal question.
Someone that knows all about the law... i could really use ur help right about now!!!?
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i was in a car wreck 3 months ago... the guy that hit me, his insurance was responsible 4 paying off what i owed on my car and i was supposed 2 get some money back. however before i could fill out the paper work 4 them 2 take my car and give the money... my lienholder (the people that i was paying 4 my vehicle) repoed my car. So the problem is i have i repoed car on my file and i dont get that money what should i do?
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mustanger
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Talk to a lawyer. You need real legal help not Y/A guesses. |
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Ian F
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You were supposed to keep paying on the car. Just because you're expecting someone to pay it off EVENTUALLY doesn't mean you get to stop making payments. |
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My Policies Caused The Calapse
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You won't get any money. The money will go to the lein holder. Since you don't own the car and the lein holder does, they will get all funds. You will be liable for the difference in what the car sells for and what you owe and the lein holder will sue you for this. |
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oklatom
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To begin with, if you are in an accident and it isn't your fault, you don't get "pay off on your car" you would, assuming the insurance company decided it was a total, get fair market value which wouldn't go to you, it would go to the lender.
A lien holder typically won't go into repossession unless and until you are at least 90 days behind on your payments, and refusing to communicate with them.
You've left a whole lot out of your story. The fact that the lender has the car doesn't relieve the at fault party from paying the lender. Once they do, if there is anything over the pay off and costs of the repossession, you might get a refund of the overage.
Don't even try to get credit now, with a repossession on your record, unless you enjoy rejection. |
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MSAD
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If your car got repo'd that means you were behind on your payments. Once your lien sent the repo papers to the insurance company - the insurance company would settle with them for the value of the car. Any equity would still go to you (if there was any).
You may want to call the adjuster that handled the claim and ask them about the outcome. I suspect there was no equity in the car - which means you get nothing. |
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CwboyBill
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Call the claims adjuster and ask him/her if there was any equity in the car. They do NOT 'pay-off' the loan. The other company should have paid YOU, not the leinholder as they have no legal obligation to pay your bank unless you instructed them to. The repo is 100% your fault. Until the settlement is complete you are totally responsible for paying your bills. |
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Todd C
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The insurance company will need to pay a payment to the lien holder in order to obtain the title. If this means they have to pay up to their offer, they will do this (possibly leaving you with no money). Your best bet is to call your lienholder and explain the situation to them. It's possible that they _might_ waive some repo fees given your situation. Did you explain the insurance claim to them before the repo'ed the vehicle? Usually if you do and they are owed money, they will call the insurance adjuster to find out the status and let the claim run it's course. |
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Viktoria Z
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see your lawyer and he will handel it. |
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