I need HELP! My fiance's BK just became final February 17th. We got him a new car the day before we filed with his credit. He never called the insurance company to tell them he had the new car. It was stolen this weekend, insurance has just told us they are not responsible since he never reported it. He can't possibly pay back $22K for a car he doesn't own now. What can we do? If we walk away from it, what can happen? He owns nothing. He literally had zero assets. Can they put a judgement against future assets? Or will they look at him and realize he's down and out and write the thing off? We get married in October, I already knew I had to qualify for the house on my own, but I was going to ut him on the title. Should I not now?
How did he register the car without insurance? Besides ruining your credit scores, judgments are good for 10 or 20 years, gathering interest all that time until paid Correct! don't put his name on any assets!
He had insurance from the previous vehicle. He's been paying insurance since November, but for the car he traded in. Chrsyler is saying they called and confirmed his insurance, but insurance is saying my fiance should have called and since he didn't they are not responsible for the missing car. We wanted to get him a newer car to insure nothing went wrong while we repaired his credit after BK.
Re: Re: Car stolen, never called insurance. The insurance company would have had to underwrite the insurance on the new car based on the car's VIN number, paying for the old car has nothing to do with a different car, if there is no policy on the new car, it's not covered
