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Total loss offer below 6k amount owed to bank

I was rear ended, my car is rendered a total loss. No GAP insurance. I owe $18k, the insurance co wants to give me $12k (BB value).

I'm stuck with $6k balance and no car. I realize I don’t have GAP insurance, but the accident was not my fault; is there anything more I can do to get them to pay for what I owe on the car? Especially because it wasnt my fault.

Good Luck



Not really, not without GAP insurance. Just about all you can do is try to increase the settlement value to $18K. There are ways to do that please see:

Also consider the following book. There are tips and techniques that will help your settlement

Being upside down in a loan puts consumers in a very bad situation (you were not at fault, but will continue making payments on a car you do not have). This is why we advocate for some change on the law soon.

We hope this helps, sorry we cannot give you a better answer.

Good Luck

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