I was on my way to work when a FedEx truck that was stopped at a stop sign decided to jump into the intersection. He thought it was a 3 way stop but there was no stop sign for through traffic. The front of my car was completely smashed in and the car was a total loss. I followed the instructions of my insurance company which only offered me $11,000 on the vehicle and I owed $18,000. They told me to contact FedEx to make up the difference. FedEx told me they do no owe me anything and that they will only pay what my insurance has quoted me, so I am going to be left with a $7000 debt and no car for an accident that was not my fault! The driver of the FedEx truck was given a ticket "failure to yield." I was fine at first but a few days later I developed pain in my lower back, neck and arm. I went to the ER and was prescribed muscle relaxers and painkillers.
You are only entitled to fair market value of the vehicle. If you owed more than the car was worth you are out of luck. However, if you had gap insurance, the difference would be covered by your policy. You are entitled to damages for your personal injury as well. Talk to local counsel.
You probably got all you are going to get for your car as you are only entitled to the fair market value, which you have already been paid by your carrier. You can try and make up the difference by making a personal injury claim and recover money to pay towards the debt. You need to consult with a car accident lawyer to recover the most possible for your injuries and damages. Call one today for a free consultation.
Was my answer "HELPFUL" and/or a "BEST ANSWER?" I appreciate you for noting same. Thank you. The information contained herein is not to be construed as legal advice. The questioner should seek independent legal advice from a qualified attorney after establishing a proper business relationship. Forrest Welmaker is Board Certified in Personal Injury Trial Law by the Texas Board of Legal Specialization. No attorney fees unless a recovery is made. Doctor referrals are usually available.
As for "the gap" (you owed more than your car was worth), it is not FedEx's fault you borrowed more than your car was worth. They only owe its fair market value, regardless of the amount of the loan. And it's worse, they will owe it to your insurance company - not to you.
You might make up some of your losses with a personal injury claim - if you have a lawyer. Seek an experienced trial lawyer. Avvo rates lawyers and has a search function. Also look at the lawyer's Peer Review Rating™ in the Martindale Hubbell Legal Directory. You can also look for board certified trial lawyers at http://tbls.org.
Going forward, do't let this happen again. If you are the kind of person who is willing to owe more on a car than it is worth, look into "gap" insurance.
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I agree with attorney Welmaker. You need to see a local personal injury attorney. Probably should have earlier and avoided some of this. As for the ACV and the "gap" you either needed to have put more down on that car or bought gap insurance. Too bad. Good luck.
Advice given in this forum does not create an attorney - client relationship. No advice should be relied on without consulting with a local attorney.
Generally you are limited to recover the total value of the vehicle not the amount you owe secondary to your financing arrangements.
You can see a Doctor and hire a personal injury lawyer for your bodily injuries. However, if your insurance policy does not have GAP coverage you will not be able to make up the difference. Check with your own carrier about GAP insurance. Find a personal injury lawyer who can send you out to a doctor for treatment.
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