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 Posted: Tue Feb 23, 2010 4:18 pm Post subject: is it illegal to keep the insurance money to fix a car and g |
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| I want to keep the insurance money to fix my car to get another vehicle. I have a lein holder and was going to give the car back |
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mzkel23
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| Posted: Tue Feb 23, 2010 5:14 pm Post subject: |
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| Quote: | | I have a lein holder and was going to give the car back |
Why, what for? What if you owe more on this car than what it's worth? Your lein holder will want the difference. |
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Trench
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| Posted: Tue Feb 23, 2010 5:33 pm Post subject: |
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Yeah, not a good choice and probably not acceptable under your agreement with the leinholder.
Kinda like giving a slighly chewed piece of gum back to the store.
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DanWilliams
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| Posted: Tue Feb 23, 2010 6:04 pm Post subject: |
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The car needed $1300 in repairs prior to the accident. The speedomer and Fuel sensor is broken. Last year I was unemployed so I increase my deductible to decrease the monthly payments, now it's $1000.00 Plus i am still behind in my car payments.
So i was thinking since I am filing for Bankruptcy anyway and gicing the car back would it matter. I could use the money from the insurance to get a new car.
If I keep the car I will have to pay $1000.00 ded, $1300 for additional issues and past due payments. Thats almost $3000.00 when I can say the H with it all give it back....
Whats your thoughts..will I end up in jail is my question?? |
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mzkel23
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| Posted: Tue Feb 23, 2010 6:12 pm Post subject: |
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you are going to file for bankruptcy and then go and buy a new car? That sounds like a great idea, let us know how that turns out.  |
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Trench
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| Posted: Tue Feb 23, 2010 6:19 pm Post subject: |
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Trench..don't make it sound like that!!
I am going to buy a used car to have a vehicle to get back and forth to work. If all I have is $1000.00 in the bank what am I suppose to do?? I can't really afford to get the work done and catch up on my payments.
They have been trying to repo it anyway |
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mzkel23
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| Posted: Tue Feb 23, 2010 6:25 pm Post subject: |
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| Hey you said it. If you can't afford to pay bills or stay on top of them, whats the point? Your way of thinking seems to be a vicious cycle that is bound to repeat, am I wrong? No you probably won't go to jail, but by the time everything is said and done, you'll probably wish you were so you wouldn't have to worry about anymore. Take some responsibility. Go get 2 or 3 part time jobs and clean the mess up, so you don't have to file for bankruptcy. |
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Trench
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| Posted: Tue Feb 23, 2010 6:32 pm Post subject: |
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I guess past regrets won't allow me to do that!
I am a single mother with three children. I work full-time but If I make an additional $12.00 per month I will loose my daycare assistance and go from $74 per week to $365 per week..
I know its like I am repeating the cycle but I feel like if I file for Bankrupcy I maybe able to start getting on my feet and not repeat the cycle....
But this is getting too personal and I would have to tell you my life story so you couldn't understand...
Thanks for the advice  |
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mzkel23
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| Posted: Tue Feb 23, 2010 6:34 pm Post subject: |
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| What are your plans after you are discharged from the bankruptcy? |
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Trench
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| Posted: Tue Feb 23, 2010 6:41 pm Post subject: |
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To pay all of my bills on time and don't get back into this damn hole I'm in now!!!
My twins will be in regular school this August so i wont have to worry about high ass daycare anymore and maybe able to get a second job then....not no 3 or 4..
Then with everything else off my back I will finally be able to save money. |
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mzkel23
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| Posted: Tue Feb 23, 2010 8:30 pm Post subject: |
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If their is a lien holder on the vehicle the check should be made payable to you and to them (or you and the body shop.. if the BS, then they should not sign the check unless they do the work). If their is a lien on the vehicle and the check is made payable only to you, then your carrier may need to still pay the lien holder if they knew about them prior to issuing the payment. In that case your carrier will also seek payment back from you.
I know very little about bankruptcy. But I do know that certain types do allow all of your problems to simply go away. You may still be held accountable for all of this debt.
If you have the check and it's under just your name you might want to return the vehicle to the lien holder and see what they tell you. You may also want to hold onto the money and see what the bankruptcy court tells you. That is, you may not want to go spending that money until the court system tells you it's not owed. If you do, you're just digging your own hole even deeper.
BTW - The "single mom" excuse does not fly with me. I'm not a parent or married but I think at some point you _choose_ to have a child with someone who was probably questionable at best. There are also many laws that can help you hold the father responsible. None the less, I certain wish you better times. |
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tcope
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| Posted: Tue Feb 23, 2010 9:02 pm Post subject: |
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Condoms prevent stupid people from doing stupid things.
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No cares
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| Posted: Wed Feb 24, 2010 12:50 am Post subject: |
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Well the question of the matter was it illegal..but I guess it was my fault for trying to explain things to heartless and perfect people.
Anyway the insurance company issued the check in my name only. I talk with the bankrupcy lawyers and all that can be included in my ch. 7.
I guess since I choose to not use a condom and have children with the love of my life that I started dating in middle school makes me stupid.
We had bills together that cause me to go into this debt and by raising my kids by myslef...there are no laws to help you get money from a dead man!!!!
FYI he ws murdered when my twins was 1 month old...
..Think before you judge..not all people are the same!  |
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mzkel23
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| Posted: Wed Feb 24, 2010 2:39 am Post subject: |
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| I'd certainly take a Guest's comment with a grain of salt and pay it no mind. Being a single mother has nothing to do with keeping money that your lien holder is owed. But here is the thing... you are not going to make the payments on the car you own, you are also going to keep the money that you owe to the lien holder on the car and you are going to attempt to sidestep all your other debt. Now... all of that, I can kind of understand. But I'm questioning if being a "single mom" got you into this situation. With everything you mentioned it seems perhaps that you are not taking responsibility. It's not the situation that makes the person, it's their frame of mind. |
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tcope
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| Posted: Fri Mar 04, 2011 3:28 pm Post subject: take it from someone who knows |
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It is a felony from my understanding. look up Insurance Fraud.
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