Paying off a car loan?

I financed a car last June (2015) the loan was about 9000. I got into a very bad car accident and for whatever reasons the insurance company has refused to pay off the loan. Due to legal issues and me losing employment I can't afford to pay off the car, -and being that the car was totaled out I can't give

I financed a car last June (2015) the loan was about 9000. I got into a very bad car accident and for whatever reasons the insurance company has refused to pay off the loan. Due to legal issues and me losing employment I can't afford to pay off the car, -and being that the car was totaled out I can't give them back the car to cover my loan. Is there any other options I can take get from under this loan contract because it's really effecting me.

Other answer:

Alexis:
1) no normal insurance pays off the loan – they pay off the "value" of the car, and that will be a hellova lot less than you paid for it

2) insurance companies do not "take back" cars under any circumstances

3) even if the car was perfect giving it back to the loan company would not cover the loan

4) if the loan was secred on the car (i.e you took it out from the car dealer) then almost certainly you breached the conditions of the loan by not having it fully insured

5) whats with the "for whatever reasons"?
the insurance company would have told you why they werent paying out so dont bullsh//t

6) Bet they wont pay out cos you were doing something not covered by the insurance (e.g racing) or something illegal

7) only other option
If you aint got it then borrow more money to pay off the car loan otherwise say hello to debt collectors and ruined credit
Dont matter what you have to give up in order to repay it- this is your highest priority after rent and food

oklatom:
If you had opted for GAP coverage at the beginning of the loan, after the insurance had paid fair market value to the lender GAP would have covered the difference between fair market value and the balance of the loan. Apparently you didn't do that.

No insurance company has an obligation to pay off a loan in the event of a total loss, only to make you whole. So if you had a car worth $15,000 and owed $30,000, it isn't the insurance companies fault you were upside down in the loan. And you can't make a profit from them.

You had a car worth $15,000 and now your loan is $15,000 less than it was, you have been made whole. The balance is yours.

NSOUR:
Unfortunately, it seems you have no options other than to get a job and start paying off what's left of the loan. You can't really get out from the contract…Maybe bankruptcy, but that's not really a great option.

GAP coverage would have been good. It would have covered the full amount of the remaining loan balance. You wouldn't have had a car, but at least you wouldn't have owed anything, either.

TheReal:
The short answer is no. There is nothing you can do to get out of this loan. As far as the "whatever reason", I assume you either let the insurance lapse, or you were involved in something in which the insurance refused to pay (DUI, street racing, etc).

It's very simple. You signed for the loan, now you owe the money. The don't care if the vehicle is driveable or not, you still owe the money, and they will get it. If you stop paying, they'll sue you, and they'll win. They will be awarded the entire amount owed, plus legal fees. In states where it's legal, they'll garnish your wages for up to 25% of your disposable (take home) income, until such time as the loan is paid off. There is no statute of limitations, so if you quit your job, they'll just get the money later.

maris:
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L. E. Gant:
Depends on the policy and what you paid for….

Most of the time, it's the car being insured. So, you can claim the amount for either agreed value (one type of policy) or cost of replacement, so you get a car that's equivalent to the on you totalled.

Talk to your insurance company about what they are allowing you to claim.

But it's very seldom that your loan is insured (that's a very different type of loan). You're still liable for the amount of the loan, even though there's no longer any security/collateral if you don't keep up the payments.

Dan B:
Sounds like you didn't have full coverage for the car as a condition of your loan agreement. If you didn't have collistion/comprehensive coverage (as a condition of financing the car), you'll have to pay that $9k out of your pocket – you have no choice or options. Expect your credit to take a dump. Liability insurance does not cover damage to your car.

If you had full coverage, insurance would have covered the value of the car at the time of the accident. You'd only have to pay the difference between the value of the car and the balance owed (much less than the $9k probably).

John:
Insurance will estimate the car year market value .For example a 2008 car that you bought it for let say $12,500 depend on milage insurance estimate may show 8500 or 9000 total value ,which there's a difference of 3500 in total value .You are obligated to pay the Interest of the loan as well ,which that would be not in interest of the insurance company to pay back .That mean they will pay you 8500 in total damage and rest will go out your packet to payback the loan .
Never:
For whatever reasons is not a good reason. You either had insurance or you didn't. If you didn't, they wont pay. If you did, they should.

There is no magic answer to ridding yourself of debt without paying it.
Maybe bankruptcy.

On the flip side, if you aren't employed there isn't much they can do to you over it. Other than 7 years of bad credit.

I'm not really sure if bankruptcy is better than just not paying it.
Unless you have lots of other debt.

An attorney consultation to see if you have a case against the insurance company would be worth your time and its free. But he would probably want 35% of anything he collects.