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Questions About Gap Automobile Payment?
18 Apr 2010My car was recently totaled. My insurance company paid its portion on the car but I was still left with a balance of around $6,000 more than it was worth. My gap insurance only paid $2300, now I am left owing the bank around $3000+ dollars is there anything I can do to get rid of this debt with my bank.
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3 Responses to Questions About Gap Automobile Payment?
ffperki
April 18th, 2010 at 5:25 pm
I am sorry I was under the impression that gap was supposed to pay the remainder of the debt. Did you have a different kind of GAP insurance maybe you should ask for a clarification and if you are not happy with hat maybe you need an attorney. I would be asking a bunch of questions.
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April 18th, 2010 at 6:06 pm
Wow sorry to hear that. I would dig up the contract for the gap inshurance and find a lawyer to help you with that. Like the first guy i thought gap was supposed to cover whatevr the differance was. good luck.
Tom W
April 18th, 2010 at 6:14 pm
Contact the finance person at the dealership where you purchased the car. They will be able to help you out. I was under the impression the whole amount would be paid off.