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Do you have let the credit company know where the vehicle is parked?


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Wiki User
2015-07-15 20:49:32
2015-07-15 20:49:32

Yes you do. They are the lawful owners of the car until the loan is paid in full. In some states you could be charged with concealing mortgaged property.

Not in the state of Arkansas you don't have to tell them where the vehicle is at...I know because I went through this myself about 4 months ago. Police call it a civil matter and cannot get involved unless its to uphold the peace. The most the lienholder can do is take you to court and place a judgment against you. The police told me that once they hook onto the vehicle it is by law theres. The thing to do is to keep them from getting near it.

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provide them with a police report. Your old insurance company should already know the situation, and they can produce what is called a letter of expierence for you.

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Yes credit score is really important to know when you are trying to finance a vehicle and you can always get credit scores from a number of places like http://www.freecreditscore.com

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Sorry but you are still at fault if you hit an illegally parked vehicle. The key word is that the vehicle was parked and not moving. This placed the only one in the accident who could have prevented it is you. You are required to look where you are going, safely go around or stop before hitting the vehicle. I know it makes you made when people do this stopping where they shouldn't, but again you have an obligation to look and stop.

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Was it? I don't know as I wasn't there. You may want to rephrase this to make clear what you are asking.

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If you know who hit your car, and they have insurance, then, yes, they should pay for it, so long as you were not parked illegally. Let YOUR insurance company handle this for you. That's what you pay them for.


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