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Car totalled, but filed bankrupcy...

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Posted: Sun May 03, 2009 12:52 am   Post subject: Car totalled, but filed bankrupcy...   My son totalled my car we think. I owe lots of money, Way more than it is worth, but have filed bankrupcy. What happens now? Will they cut me a check to pay on my bankrupcy payments or how does that work?	jen44922 New member Joined: 03 May 2009 Posts: 1 1.54 Dollars($)
Posted: Sun May 03, 2009 1:53 am   Post subject:    The insurance will pay the lienholder up to the value of the vehicle in exchange for the title. You will still owe the remaining part of the loan the same as if the accident never happened.	tcope Forum Expert Joined: 22 Nov 2006 Posts: 5193 Location: Salt Lake City, UT 285.25 Dollars($)
Posted: Mon May 04, 2009 4:49 am   Post subject:    Just wondering....Jen, do you have a gap insurance? If you have one that would lessen your worries a bit since the gap would pay the difference between the claim check and loan. Is the car listed in the bankruptcy? ~Jeremy	JeremyHolter Senior member Joined: 06 Jun 2007 Posts: 1194 210.30 Dollars($)
Posted: Mon May 04, 2009 5:13 am   Post subject:    Jen, if you haven't reaffirmed the auto loan you might not have to pay for the remaining amount on the car. But most of the lenders would require the debtor either to reaffirm the loan or surrender the vehicle. _________________ Register Now to have your Insurance queries solved.	anonymous 12 Guest

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