Legal Question in Traffic Law in Texas
payment of loan balance
my car was totaled in anccident. the insurance company of the person at fault paid what they said was the market value of the car, leaving me with a balance on my loan($1900). can i get the insurance copany or the person responsible to pay or help pay the balance?
Asked on 3/18/01, 7:23 pm
1 Answer from Attorneys
Charles Aspinwall
Charles S. Aspinwall, J.D., LLC
Re: payment of loan balance
Unfortunately, no. They owed you only the fair market value of the vehicle.
This is an unfortunate negative consequence of long-term automobile financing. Often the value of the car goes down faster than the balance of the loan.
Answered on 5/26/01, 11:43 am
Related Questions & Answers
-
No Insurance paper in car and 1 broken tail light My brother is not a permint... Asked 3/16/01, 1:58 pm in United States Texas Traffic Law
-
Is a citation for speeding and reckless driving valid if the officer who issues I... Asked 1/30/01, 11:43 am in United States Texas Traffic Law
-
Traffic burden of proof question Hello, I was recently written a citation for... Asked 1/15/01, 8:38 am in United States Texas Traffic Law
-
Issuance of a citation Is there a chance of getting a citation dismissed, if an... Asked 1/11/01, 10:33 pm in United States Texas Traffic Law
-
Failure to control speed If one receives a ticket for ''failure to control speed''... Asked 1/02/01, 10:23 pm in United States Texas Traffic Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
