BOO-V Posted June 7, 2007 Report Share Posted June 7, 2007 Hello everyone, I am new to the site and wanted to tell my story. I bought a 2000 Daewoo in 2001, little did I know the company would go bankrupt 1 year later! anyway the car was stolen and wrecked with 6500 in damages. My insurace company didnt total the car out and now im stuck with a 10,000 balance and cant even get parts for the car because the company does'nt even make them anymore! Now the bank I went through took the car and sold in with me stuck with the balace and a repo on my credit report, is this worth fighting or just take it as a loss? Link to comment Share on other sites More sharing options...
Ahntara Posted June 8, 2007 Report Share Posted June 8, 2007 Absolutely worth fighting.You may wish to start by researching your state's Lemon laws... Link to comment Share on other sites More sharing options...
BOO-V Posted June 8, 2007 Author Report Share Posted June 8, 2007 Ok, I am currently in Iraq and I bought the car in NC, would the SOL be for TX because thats where im stationed at now or NC? I have moved around quite a bit since then! Link to comment Share on other sites More sharing options...
CleverCynic Posted June 8, 2007 Report Share Posted June 8, 2007 Wherever the contract was signed...I'm not sure how lemon laws apply if it was wrecked. Link to comment Share on other sites More sharing options...
HamptonCredit Posted June 8, 2007 Report Share Posted June 8, 2007 I don't believe lemon laws will extend that long after the vehicle is purchased. That law is mainly to protect people from buying a car that quickly breaks down on them due to a pre-existing fault with the car.Unfortunately, even with the accident, damage, and resulting inability to fix the car, you still have to pay back the lender the amount you borrowed to purchase the car. If there is any lawsuit to be made here, it sounds like it would have to be directed to the insurance company if they didn't reimburse you enough or failed to total the car when they should have.As to the negative trade on your credit, you might be able to get it removed through some disputes and a little luck, but if the SOL is not up, they might decide to sue you for the balance owed. It is a big risk to take. Link to comment Share on other sites More sharing options...
nascar Posted June 8, 2007 Report Share Posted June 8, 2007 start by researching your state's Lemon lawsOh, you mean the one dealing with stolen and wrecked cars? This whole thread makes no sense. Link to comment Share on other sites More sharing options...
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