Wichita, KS asked in Bankruptcy and Consumer Law for Kansas

Q: We contacted lender to voluntarily repo our truck. We then parked it where it could be towed and dropped the insurance

The next day the truck was gone and we thought the lender took it. Several days later the lender said they did not have the truck and it must be stolen and to report it to the police which we did. The truck has not been located. Now the lender is contacting us. What are our options?

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2 Lawyer Answers
Peter Christopher Lomtevas
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A: Without seeing the loan agreement that discusses remedies in the event of theft, perhaps the asker owes the full cost of the vehicle minus payments made.

David Luther Woodward and Timothy Denison agree with this answer

Timothy Denison
Timothy Denison
  • Bankruptcy Lawyer
  • Louisville, KY

A: Turn it over to the insurer and let them and the lender hash it out.

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