My 19 year old cousin with driverโs license drove my car intentionally knowing that I had no insurance on it and got in a car accident. Him and his mom were supposed to buy the car from me for what the balance was. I owed the finance company $6800 and he got into a wreck, left it in the tow yard, haven't paid a payment and is not making an effort to do anything.
1. Bankruptcy on your credit will be worse than one bad debt like this. 2. See a lawyer about suing your cousin for your losses. Or proceed in small claims to sue him for the value of the car. 3. Assuming you had no auto insurance at all at the time, take this as a tough lesson to learn about the value of insurance.
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