Legal Question in Credit and Debt Law in Ohio

Stolen Truck, Do I Have To Pay?

If someone had a truck on lease, and it was stolen, but you had no insurance on it, do you have to pay back the money you owe for it?


Asked on 2/22/01, 4:33 am

1 Answer from Attorneys
C. David DuMond Law Offices of David DuMond

Re: Stolen Truck, Do I Have To Pay?

Yes, you have to pay the balance of the lease payments and the value of the truck at the end of the lease. But are you sure you didn't have insurance on it? No lease company or lender would allow the collateral to run around uninsured. Have you reported the loss? Promptly do so. They probably have some sort of vendors coverage on the vehicle. But if not, you are responsible.

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Answered on 4/04/01, 8:45 am


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