Legal Question in Bankruptcy in Georgia
My car was stolen, and subsequently recovered and deemed a total loss by my insurance company. I have recently filed Chapter 7 bankruptcy, and this vehicle was listed under intent to reaffirm debt. I have never signed, nor submitted a reaffirmation agreement. If my insurance company pays me directly for the loss, what is my obligation, financially, to the creditor of the auto loan?
1 Answer from Attorneys
The reaffirmation question makes virtually no sense and is irrelevant, but to answer your last question the lender gets all the money up to the point at which the loan is fully paid off. It is unlikely the insurer will cut a check payable only to you but if they do and you try to keep the money it won't end up going well. It was the lender's money when the car was stolen and wrecked.
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