Accident with surrendered vehicle

[Maquitagirl]

I am surrendering my PT cruiser in my bankruptcy. My 341 is July 28th. Well last night we got into a 4 car pile up. Luckily my son and I are both okay. The vehicle has some damage, but not much. The insurance adjustor will come out today to look at it.

Does this affect my bankruptcy at all? The other person insurance will pay for the repairs and it will be repaired before they come and reposess it. There is no claim for medical or pain. Like I said we were both okay.

[NoMoreCards]

As long as the vehicle is repaired it should not cause any problems with the BK filing at all.

I am glad you and your son are ok.

[frogger]

Not a problem. That's what insurance is for!

[Maquitagirl]

Thanks for the replies. So what happens if the other people's insurance drag their butts and don't get the repairs paid for right away.

The lawyer said I should have 60 days after my 341 before they come to get the vehicle. But what if it gets repossessed and it has the damage. My lawyer would just give the insurance check over to them to repair the vehicle?

[keepinitreal]

Thanks for the replies. So what happens if the other people's insurance drag their butts and don't get the repairs paid for right away.

The lawyer said I should have 60 days after my 341 before they come to get the vehicle. But what if it gets repossessed and it has the damage. My lawyer would just give the insurance check over to them to repair the vehicle?

If the lender gets the car back needing body work, they'll contact your insurance company and request a check for the repair amount.

[wonderingrov]

If you think their insurance company may drag their feet, you may want to contact your insurance company to see if you can have them fix it under your uninsured/underinsured motorist coverage, then go after the 'at-fault' party's insurance company for payment. I have had to do this in one situation. The downside is that you have to fork out the deductible until they recover the money from the other insurance company - the upside is that you won't have any worries when you turn over the car.

[BCA2009]

Unless you have plans to drive it anymore, just call the bank and tell them where it is and that you were in an accident. I would correspond with the other insurance company, just out of goodwill and cooridinate the repair if it wasn't a burden , but I would not spend a nickel out of my pocket or jump thru hoops to get it fixed. If the other insurance company drags it's feet, then it would be the banks problem to work out between witht the other insurance company and your insurance.

You have enough stress going on. Don't take on anymore.

[nc73]

Unless you have plans to drive it anymore, just call the bank and tell them where it is and that you were in an accident. I would correspond with the other insurance company, just out of goodwill and cooridinate the repair if it wasn't a burden , but I would not spend a nickel out of my pocket or jump thru hoops to get it fixed. If the other insurance company drags it's feet, then it would be the banks problem to work out between witht the other insurance company and your insurance.

You have enough stress going on. Don't take on anymore.

I agree. Don't use your insurance to pay for it. Let the bank worry about it.

[Bell30656]

Nothing says that you have to fix it. Surrender the vehicle and give them a copy of the accident report. Let them go after the other parties insurance company. Be sure to report the accident to your own insurance company as well so they will be prepared when the lender tries to file a claim.