Overhaulin'

Title loan company has lien on vehicle, I just wrecked the vehicle and insurance says it is a total loss?

I just filed for chapter 7 bankruptcy and listed the title loan company on it, who gets the money from the insurance company? Also, if i decide to keep the car, do i have to give the insurance company a copy of the title?

Public Comments

1. You should definitely consult your lawyer. I can most certainly tell you that you will not be getting the money. Either the bank, or trustee of the bankruptcy or however they do it now a days will get the money. If you decide to keep the car, you will have to hand in the title to get a salvage or reconstructed title.
2. I see that so far the only answer you have received that is not one of those "send me money" SCAMS is "JLG". (DON"T send them money! To actually answer your question I believe the insurance settlement becomes part of your assets to be used by the bankruptcy court to settle your debts. Ask the attorney that represented you in court to be sure. The court would not be pleased if you spent the funds without authorization.