Expert: Bennie719 - 3/30/2008

Question
1: I was hit in a parking lot
2: My car has a lien holder
note:
They( the other party) have not acceptepted responsibility for accident yet, I am without a vehicle.  If my car is "totaled" will my lien holder get the settlement? though my car is only worth a few hundred, it is collateral ( along with my wifes car) on a 10,000$ loan

Is there any chance of getting anything on my end

Answer
Hi Richard,
I'm sorry to learn of your predicament.  If your car is totaled, the check will be made jointly to you and the lien holder.  This is the only way that the adverse insurance company can get the lien holder to release the title and they need the title to sell your totaled car at auction for parts or scrap.
If you have a good payment record on the personal loan, there is every possibility that you can explain to the lien holder that you need the proceeds from your totaled car to buy a replacement and they will be understanding and sign the check over to you.
I hope that you find this information helpful.
Your feedback by rating my answer will be appreciated.
Sincerely,
Bennie
San Francisco Bay Area