Legal Question in Credit and Debt Law in California
Vehical total in accident,still under contract....
Happy holidays, my son was involved in an accidents and his car was total,however he had no insurance and come to find out the other party insur.claimed fault. they settled for $3000 ( new state law prevents collection on pain and suffering if there is no coverage) here the problem he owes about $6000 on the cotract and the car is totaled ! is there any way he can get out of the contract or come to a settlememnt? like i stated he had no insurance, but will he be resposible for making pymts on a TOTALED vehical? can they sue him for the total? or what is owed at this time? Thank you
1 Answer from Attorneys
Re: Vehical total in accident,still under contract....
How could he have a loan on a car and not have insurance? Most lenders, if not all, require insurance. If he did not have insurance, check with the lender to see if they had placed an insurance policy, sometimes called a "forced placed" policy. If they did not, he will have to pay the lender in full, but they may be willing to negotiate with him.
Good luck.
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