Comments on: Selecting Gap Insurance for a Bad Credit Auto Loan http://www.autocreditexpress.com/blog/2010/07/10/selecting-gap-insurance-for-a-bad-credit-auto-loan/ Bad Credit Auto Loan Blog Thu, 09 Feb 2012 03:18:49 +0000 hourly 1 http://wordpress.org/?v=3.3 By: Steve Cypher http://www.autocreditexpress.com/blog/2010/07/10/selecting-gap-insurance-for-a-bad-credit-auto-loan/comment-page-1/#comment-10638 Steve Cypher Tue, 27 Jul 2010 15:20:46 +0000 http://www.autocreditexpress.com/blog/?p=1426#comment-10638 Evelyn, Even though you have GAP insurance, you are still responsible for the balance due on the loan. I am sure the lender is contacting you because they want to get their money as soon as possible. At this point in time, I would suggest that you contact the GAP insurance company and explain your situation. Evelyn,

Even though you have GAP insurance, you are still responsible for the balance due on the loan. I am sure the lender is contacting you because they want to get their money as soon as possible. At this point in time, I would suggest that you contact the GAP insurance company and explain your situation.

]]> By: Evelyn http://www.autocreditexpress.com/blog/2010/07/10/selecting-gap-insurance-for-a-bad-credit-auto-loan/comment-page-1/#comment-9762 Evelyn Fri, 23 Jul 2010 19:17:12 +0000 http://www.autocreditexpress.com/blog/?p=1426#comment-9762 I just recently had a car accident. Unfortunately, the car got totaled. My insurance issued a check for the cash value of the car but there was a $ 2,100. oo difference with my actual loan balance with a finance company. I have a GAP insurance, and right they are processing the claim to cover for the difference. The Finance company is asking me to pay for the difference since according from them, they have not received the check yet from my GAP insurance. Why would the Finance company asked me to pay the balance when they knew that my GAP insurance will pay for it? They threatened me that they will report it to credit bureau so that my credit will be affected if I don not pay them now. Please advise. I just recently had a car accident. Unfortunately, the car got totaled. My insurance issued a check for the cash value of the car but there was a $ 2,100. oo difference with my actual loan balance with a finance company. I have a GAP insurance, and right they are processing the claim to cover for the difference. The Finance company is asking me to pay for the difference since according from them, they have not received the check yet from my GAP insurance. Why would the Finance company asked me to pay the balance when they knew that my GAP insurance will pay for it? They threatened me that they will report it to credit bureau so that my credit will be affected if I don not pay them now. Please advise.

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