Hi,
One of my family members recently hit a deer. They still owed money on the car. They sent it through to be worked on and got the bill. They have to pay it all up front. They do not have any where near the money to pay for it and they cannot get a loan because their credit is horrible. My question is, since they still owe money on it from the bank, what will happen when the person who fixes their car doesn't get paid?
2007-08-27 11:10:22 · 5 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
They did not have insurance at the time
2007-08-27 11:25:23 · update #1
the mechanic will take your relative to civil court for the money owed and probly keep the veh and charge storage fees too. if the car note isn't paid the veh will be repoed too.
they should have had insurance on the vehicle to cover the damage and only need to pay the deductable. unless they didn't have full coverage or are driving w/o insurance which is a big no no when you still owe on the car. finance co's require full coverage.
2007-08-27 11:19:39 · answer #1 · answered by nataliexoxo 7 · 0⤊ 0⤋
they must run it by using their coverage; for the reason that they have a notice on the automobile it has finished insurance (or ought to). what is going to ensue is that the storage will place a mechanic's lien on the motor vehicle. they're going to preserve possession of the motor vehicle until eventually the bill is paid in finished. After a undeniable volume of time (frequently 30 days) the shop takes legal possession of the motor vehicle (they get identify) and then they are able to do despite the fact that they want. The regulation is carefully on the shop's element and that's that. The own loan on the automobile continues to be ticking away. One has no longer something to do with the different aside from your loved ones member being interior the midsection between them. he's going to land up figuring out to purchase a automobile he won't have the capacity to apply and ought to lose. If the shop exercises their mechanic's lien and takes possession, the relatives member will owe the lending organisation, on the instant, for the great volume of the unpaid stability of the indoors maximum loan. Like I suggested, get coverage in touch. this is why you pay them each month.
2016-10-17 03:43:23 · answer #2 · answered by furne 4 · 0⤊ 0⤋
If they still owed money on the car, then they have full coverage. Banks require this since they own the car until it's paid off. Therefore, the insurance company will pay.
2007-08-27 11:14:31 · answer #3 · answered by Lost Poet 6 · 0⤊ 0⤋
You post your profile on this webiste and then lenders come to you. I recommend trying
http://www.creditloansonline.com
2007-08-28 17:03:39 · answer #4 · answered by Anonymous · 0⤊ 0⤋
mechanics lean on the car, most likely.
2007-08-27 11:13:02 · answer #5 · answered by bearbear 2 · 0⤊ 1⤋