no car payment

[izzie]

What is the name of your state? N.C.
A coworkers car was totaled in an accident. Hit from behind at a red light.
The insurance company paid him 8000.00. He took that money and used it for a down payment on a new SUV. He financed the remainder.
Now hes telling people that in a couple of months his new car will be paid off .
He claims he has a lawyer and that they are sueing the person at fault,claiming he had no car payment before the accident and now he does.He said the other insurance company is going to pay off his loan!!!
What I am asking is this really possable? I find it hard to believe myself.

Izzie

 

[dgingrich]

I'm no lawyer, but it seems to me that it was his choice to buy a car that was more than $8000.00. He could have went out and bought a perfectly great used vehicle for 8K and had no payments whatsoever. Personally I would have paid 4K for one and pocketed the rest. Why should someone else be responsible for his choice? I am sure if I am wrong the seniors will gladly correct me lol.

 

[Lynx 36]

What is the name of your state? N.C.
A coworkers car was totaled in an accident. Hit from behind at a red light.
The insurance company paid him 8000.00. He took that money and used it for a down payment on a new SUV. He financed the remainder.
Now hes telling people that in a couple of months his new car will be paid off .
He claims he has a lawyer and that they are sueing the person at fault,claiming he had no car payment before the accident and now he does.He said the other insurance company is going to pay off his loan!!!
What I am asking is this really possable? I find it hard to believe myself.

Izzie

The insurance co. will not pay off the loan. They give fair market value f/ the car only. If he has a lawyer they are probably sueing f/ injury or trying to get a settlement.

 

[teflon_jones]

He said the other insurance company is going to pay off his loan!!!
What I am asking is this really possable?

Sure, it's possible in dream land. Not going to happen! No lawyer worth their salt would ever take on the case you described either.