Q: Auto accident car totalled, full coverage lapsed but lien holder added forced placed policy. Who owns if loan settled?
Daughter was in accident. Still owes for the car, boyfriend didn't pay insurance but credit union added a forced placed insurance policy. If that policy settles the loan for them. Does the vehicle then belong to my daughter or the credit union in Kentucky?
A: Credit Union gets reimbursed for the loan first. Any remaining proceeds after that go to your daughter.
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