QUESTION
Who gets the title if I was in a car accident and the car was totaled?
Asked on Mar 13th, 2017 on Bankruptcy - Wisconsin
3 ANSWERS
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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When the insurance company pays the funds for the totaled car, it gets the title.
Answered on Jun 05th, 2017 at 8:27 PM
Who is paying off the balance of the vehicle loan?
Answered on Jun 05th, 2017 at 8:27 PM
Bankruptcy Attorney serving Madison, WI
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Richard B. Jacobson & Associates, LLC
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The lender is entitled to the proceeds up to the balance you owe. If there is a second creditor with a claim on the vehicle, then that creditor gets proceeds up to the balance owed. If there is any surplus which is highly unusual limit goes to you.
Answered on Jun 05th, 2017 at 8:48 AM