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  1. #1
    Join Date
    Oct 2011
    Posts
    2

    Default 3 Years of No Payments on Car, What to Do

    My question involves collection proceedings in the State of: California

    I have a auto loan with a balance of $13k, it was in a car accident back in October 2008 and my auto insurance company said it was a total loss, my finance company said it wasent. Since then we have not made payments on this car, it has now been 3 years and we still have the car sitting in a garage, crashed and not driven. I would like to keep the car, but not sure what i can do to keep it. The car is under my wifes name only and her credit got shot because of this. My questions are is their some law that says after a certain amount of time if the lender cannot collect i can keep the car? If they do want to take the car, can i charge storage fees and have become a wash? My goal is to keep the car, and make the repairs on my own. Any help will be greatly appreciated.

    I have not made contact with the finance company since the 2008 and they have not attempted to take the car. we still receive mail to our house from them for invoices.

  2. #2
    Join Date
    Jan 2006
    Posts
    38,867

    Default Re: 3 Years of No Payments on Car, What to Do

    I have a auto loan with a balance of $13k, it was in a car accident back in October 2008 and my auto insurance company said it was a total loss, my finance company said it wasent.
    explain.

    was the car totaled or not? I suspect you were upside down in your loan if there is an outstanding balance of $13k.


    No, you cannot charge storage.

    the statute of limitation applicable here is 4 years. That means the creditor had 4 years from your date of delinquency in which to avail themselves of the use of the courts to collect the money you owe them. Seems like have awhile to wait before they cannot win a properly defended suit.

  3. #3
    Join Date
    Oct 2011
    Posts
    2

    Default Re: 3 Years of No Payments on Car, What to Do

    the car was totaled per the insurance company, but the finance company said it was not. This has been going on for 3 years!!! I did have gap coverage when i finance the car but it does not apply if the car is not considered totaled by the finance company. I am not really sure what to consider it, because my insurance did not cover anything, and the finance company didn't do anything either.

    four years! man... i thought i was already at the end of the tunnel! lol

  4. #4
    Join Date
    Jan 2006
    Posts
    38,867

    Default Re: 3 Years of No Payments on Car, What to Do

    I'm not understanding your situation. Why, or more properly, how can your finance company determine whether it was totaled or not? What was their criteria and why is it different than the insurance company's assessment?

  5. #5
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: 3 Years of No Payments on Car, What to Do

    Should we infer that the gap insurance was purchased through the finance company?

    Even when the statute of limitations runs on suing for the debt, the lender does not have to clear your title.

  6. #6
    Join Date
    Sep 2011
    Location
    OH10
    Posts
    17,019

    Default Re: 3 Years of No Payments on Car, What to Do

    Why did the insurance not pay to get the damage fixed or pay you for the value of the car?

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