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  1. #1
    Join Date
    Apr 2008
    Location
    Florida
    Posts
    1

    Default Can You Sue For Loan Balance Above Car Value After An Accident

    My question involves a traffic accident in the State of:Florida.
    Several weeks ago my wife was involved in an accident where NO injuries were sustained by either party. The officer on the scene after taking statements, issued a citation for "failure to yeild to other vehicle in an intersection", but did not citate for "speeding", "recklessness", or "failure to stop for a traffic signal". The other driver t-boned my wife in an intersection after running a red light at a high enough speed that tipped the vehicle up onto two wheels, but came back to a rest on all four. The other drivers' insurance has assumed 100% liability, and is going to pay out what they consider "Actual Cash Value" of the vehicle. However, this leaves us without a vehicle, no cash to obtain one, and still owing approx. $4000.00 after the insurance settlement. Can I sue the other driver personally for that amount? Through no fault, nor negligence on our own part, we are now in jeopardy of losing employment, we will have no means of transportation after this coming monday, the rental car goes back, and are now going to be in an even deeper financial hardship. Any thoughts or suggestions? Personal injury lawyers will not even touch it because of no injuries.

  2. #2
    Join Date
    Mar 2007
    Posts
    9,096

    Default Re: Can I/Should I Sue?

    You can always sue...

    but I am not sure how you are so upside down...

  3. #3
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Can I/Should I Sue?

    Your damages are the market value of your car, not your loan balance. Further, if you settle, you will be required to sign a release of all claims.

  4. #4

    Default Re: Can You Sue For Loan Balance Above Car Value After An Accident

    Have you checked with your insurance company? Many finance companies require you to carry "gap" insurance to cover this. You need them involved in the settlement.

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