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Insurance

Should it be reported as a repo if the car was stolen and stripped and the lienholder filed against the insurance for the balance?

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2004-10-15 22:40:42
2004-10-15 22:40:42

Advice?? I'm full of it...LOL CALL a local attorney for the usual FREE consultation.

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Generally, a claim can be cancelled. If you do not want the insurance to pay a claim, the company will be glad not to pay it.

It'll be reported stolen. So yes, you can. So long as there's a lien against the vehicle, it belongs to the lienholder, and they have a legal right to reclaim their property. If you try hiding it, you're committing theft.

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It Appears it does not, as the City of Lynnwoods website states it is a civil infraction and does not count against your driving record and is also not reported to insurance agencies

No, because, until you get it paid off and hold the title, it's not actually your car, per se - the lawful owner is the lienholder.

For that to happen, the lienholder would have to take you to court for the balance of the lien, and a garnishment would have to be placed against you by a judge.

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Probably. Contact your insurance. They may file against your neighbor's insurance.

It's not illegal, but it won't stop the lienholder from filing in civil court if they're unable to recover their property.

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