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Who is liable on a financed car for the interest after a total loss.?
Roberthetiger
After a total loss if the loan is not completely paid off by the settlement then the one who has been responsible for the payments will be responsible for any remaining balance with interest. There are so many different insurance and finance companies and they all have different rules you should make appropriate contacts to get the actual answers.
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∙ 15y ago
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When a Loss is Identified Who is Pecuniarily Liable?
The party responsible for causing the loss or damage is typically financially liable. This could be an individual, a company, or an entity that has a legal duty of care. Liability can also be outlined in contracts or insurance policies.
What if you don't have homeowners insurance?
If you don't carry homeowners insurance and you have your home financed, you are breaking the contract and your bank will take out a forced place policy to cover their interest in the home and you will have to pay the premium which is far more than a homeowners policy. If it's not financed, you take the entire risk of loss upon yourself.
When your car gets repossessed after 2 months of non payment can you get your down payment back?
No once it's repo'd you either have to work it out with whoever financed the vehicle to get it back or your at a total loss. And banks will sell the vehicle at an auction to the highest bidder which most likely if you just got the car will be thousands less than what you just financed it for,which you'll also owe on top of your loss.
Can a company be held liable for an accident if they didn't keep up with their lot.?
Yes, they could be held liable, but only if the negligence is contributable to a loss
Does homeowners insurance have to include second mortgage?
Yes you need to include your 2nd mortgage. The reason is because they have an interest in your property. They must protect themselves, in case their is a total loss or significant loss.
What does loss payee mean on a auto insurance policy?
The loss payee is any entity that has financial interest in the vehicle (usually a financial institution) that notifies the insurance company and the policy holder of that interest in writing. Any entity can be a loss payee, including your father, if he can show financial interest. The loss payee is usually the finance company that holds title to your vehicle. In the event of significant damage to the vehicle the loss payee needs to sign off on the check from the insurance company for the damage. This usually happens after the damage has been repaired. In the event of a total loss the loss payee will be sent a check for the amount of the loan and anything left over will you to the insured. Hopefully you won't owe more than the car is worth in the event of a total loss.
Explain the set off provisions of Va under insurance?
The way that it works is you take all of the available coverage for the loss and arrive at the total available coverage for the loss. The liable car pays it coverage up to the avaiable limit The car of the injured party gets a set off of the amount of the liable car if the liable car's policy is less than that of the injured insured party Then the policy of the car under which the injured isured party is an insured by definition pays it full coverage.
Is a minor partner liable for the loss of business?
The liability of a minor partner depends on the specific terms of the partnership agreement. Generally, a minor partner is liable for their share of the partnership's losses up to the amount of their capital contribution. However, if the partnership agreement holds the minor partner as fully liable, they may be responsible for the entire loss of business.
In a limited partnership what is profit and loss interest?
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What is the duration of Total Loss?
The duration of Total Loss is 1.58 hours.
Who said this statement smokers are liable to die young?
the average is a life loss of 10 years for a smoker.
Does interest rate parity hold?
The interest parity equilibrium holds when we make a loss.
