Car Totaled - Secured Portion of loan paid - Help!

[2005brokebozo]

My wife was in a car accident Friday, we had the car looked at by an auto body shop and found out yesterday that the car is totaled. We have both of our vehicles in the plan, which we are in the 32nd month out of 42.

This car (2002 GMC Safari Van) had the loan "crammed down" - we filed in July 2005 (old law). We owed $14,915.00 but the loan was "crammed down", the secured portion came out to be $9875.00. Our 32 payments have satisfied that amount plus 6.27% interest. The remaining $5040.00 is shown as "unsecured" on the claim summary that I can see on 13datacenter. We have called our attorney, he said that he would "e-mail or petition the court". He didn't have time to explain any further.

Is there any one out there who knows what happens in this situation? We need to replace the car. We are hoping we get to spend whatever settlement the insurance company gives us to do that. My attorney is not very quick about getting back to us, and I am trying to see if I can get an opinion from the forum.

Thanks....

[Minnymouth]

More than likely you will be granted permission to purchase another vehicle since this one is in your payment plan. You will be expected to purchase one of same value or value of your settlement with the insurance company. Any monies left over the Trustee could take and put on your debts.

Let us know what your attorney tells you.......

[2005brokebozo]

Thanks for the quick reply - for now we are in limbo, our insurance company has given us a settlement figure, the attorney at first told us to instruct the insurance company to release the money to us. They can't do that presently because we do not have a title or a lien release in our hands. I don't know what the attorney and/or trustee need to do from here and how to clear up the $5000 in "unsecured". The payment schedule on 13datacenter shows $0.00 being allocated to be paid - the crux of it is "will GMAC release the title?" or will they want a portion of the $5000? I am just nervous because we are borrowing a vehicle for now and don't want this to drag on for weeks.

[laine50]

car totaled

I am in the same situation, cant afford a lawyer to petition the court so i did it my self, i was scheduled to be discharged in march, the lien holder says i owe 2800, my trustee says i owe 600 so now the insurance money is in the trustee and the lien holder, i hope i can get enough toward gettin a car, because mine was also totaled, and it was in my plan.