My car was totaled out in September 2013. Geico paid my credit union $5600. My credit union stated I still owe $1600. I have gap but the said they don't owe anything because their pay off amount was $4900. But my credit union stated that my pay off amount is $7200. Now today my credit union stated that I have to pay the difference of $1600. I have never missed a payment. What should I do now?
Personal Injury Lawyer
I don't understand why there are different opinions on what your pay-off amount is??? I would have your credit union get you written proof of your loan balance (preferably an itemized payment history) and send that information to your gap carrier. If you still cannot get it resolved, contact a local attorney for a free consultation and go from there.
Insurance Law Lawyer
You may want to contact an insurance lawyer
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Personal Injury Lawyer
Have your credit union representative contact the claims adjuster for your GAP insurance claim. Usually, GAP insurance covers the difference between what a car owner owes and what his/her car is actually worth, and in sometimes, it covers regular auto insurance deductibles, as well. You may also seek a free consultation from an attorney who specializes in insurance law/diminished value law. AVVO provides "Find a Lawyer" search for attorneys in your state/area, Good luck.
Car / Auto Accident Lawyer
I'm a former insurance adjuster then supervisor and and eventually an Insurance claims mgr. where I handled and or managed thousands of claims. However, for the last 15 years I have only represented people with claims covered by insurance and handled by my old coworkers.
Demand a certified copy of your policy and a written explanation from the adjuster explaining the basis of their position. Do this in writing via certified mail. Ask for their communication back with you to quote the policy language and give the page and paragraph they are relying on to pay less than the payoff.
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